Where is Plug Power (PLUG) Headed According to Analysts?

Plug Power Inc. (NASDAQ:PLUG) is one of the best long-term penny stocks to buy right now. On August 14, Wells Fargo analyst Michael Blum raised the firm’s price target on the stock to $1.50 from $1 while keeping an Equal Weight rating on the shares.

Plug Power (PLUG) Surges 8.5% as Fuel Cell Market Begins to Boom

The firm cited a shift forward in the base year of its valuation model to 2026 and a slightly higher EBITDA forecast, stating that it is remaining on the sidelines due to the low visibility surrounding positive profit margins.

In a report released on August 12, David Arcaro from Morgan Stanley maintained a Sell rating on Plug Power Inc. (NASDAQ:PLUG), setting a price target of $0.75.

In another report released on the same day, BMO Capital also maintained a Sell rating on Plug Power Inc. (NASDAQ:PLUG) with a $1.00 price target.

The stock’s median price target of $1.63 implies an upside of 8.90% from current levels.

Plug Power Inc. (NASDAQ:PLUG) provides alternative energy technology focusing on the development, design, manufacturing, and commercialization of hydrogen and fuel cell systems that are primarily employed for the material handling and stationary power markets.

While we acknowledge the potential of PLUG to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PLUG and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.