Plug Power (PLUG) Price Target Raised Following Better-than-Expected Q1

Plug Power Inc. (NASDAQ:PLUG) is included among the 10 Best Clean Energy Stocks to Buy Right Now.

Plug Power (PLUG) Price Target Raised Following Better-than-Expected Q1

Plug Power Inc. (NASDAQ:PLUG) is a global leader in hydrogen fuel-supply solutions and in hydrogen applications for material handling, power generation, and e-mobility.

On May 12, B. Riley boosted its price target on Plug Power Inc. (NASDAQ:PLUG) from $4 to $5, while maintaining a ‘Buy’ rating on the shares. The revised target reflects an upside of more than 27% from the current levels.

The move comes after Plug Power Inc. (NASDAQ:PLUG)’s revenue comfortably beat Wall Street estimates in its Q1 2026 report on May 11. Gross margin also improved substantially YoY, increasing from -55% to -13%, supported by the cost-cutting measures under the company’s “Project Quantum Leap” initiative.

Moreover, Plug Power Inc. (NASDAQ:PLUG) is forecasting a 13% to 15% sales growth for full-year 2026, while the margin rate is also expected to continue to improve sequentially. The company also hinted toward positive EBITDAS in Q4, supported by the stronger second-half seasonality, tighter operational discipline, and expected proceeds from planned asset monetization.

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