Susquehanna Raises Plug Power (PLUG) Target, Maintains Caution on Sector

Plug Power, Inc. (NASDAQ:PLUG) is one of the best battery tech stocks to buy right now. On July 21, The Fly reported that Susquehanna analyst Charles Minervino recently raised the price target for Plug Power, Inc. (NASDAQ:PLUG) from $1.00 to $1.80, but he kept a Neutral rating on the stock. This update came after the firm reviewed its alternative energy estimates ahead of the second-quarter earnings reports. Despite the higher price target, Susquehanna remains cautious about the entire group because of uncertainties related to tariffs and possible changes to subsidy rules under the Inflation Reduction Act.

Susquehanna Raises Plug Power (PLUG) Target, Maintains Caution on Sector

These risks make the market less predictable for companies like Plug Power. The firm prefers businesses that have strong manufacturing bases in the United States and solid backlogs of orders, such as First Solar and GE Vernova. Given Plug Power’s current market price of $1.50, the upside potential is limited, with only about 20 percent room to grow. Investors should keep an eye on how policy changes and market conditions develop before making big decisions. Overall, the alternative energy sector faces challenges, but some companies might handle them better due to their structure and order flow.

Plug Power is a battery technology company that develops and manufactures hydrogen fuel cells and energy storage solutions that power electric vehicles and industrial equipment, focusing on clean, efficient alternatives to traditional batteries and supporting the shift toward renewable energy.

While we acknowledge the risk and potential of PLUG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PLUG and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.