H.C. Wainwright analyst Amit Dayal has maintained their bullish stance on PLUG stock, giving a Buy rating yesterday.
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Amit Dayal has given his Buy rating due to a combination of factors including Plug Power’s progress in cost reduction and margin improvements, which are expected to lead to positive gross margins by the end of the year. The company has demonstrated an increase in net revenues and has a strong outlook for the upcoming quarter, supported by improvements in its material handling business and internal hydrogen production capacity.
Additionally, Plug Power’s strategic focus on the European market, where policy support for hydrogen is robust, presents significant growth opportunities. The company is tracking a substantial electrolyzer opportunity funnel in Europe, valued at over $21 billion for 2025 and 2026. Despite uncertainties in U.S. regulatory support, Plug Power’s liquidity is bolstered by a secured credit facility, and its long-term revenue projections are promising, with expectations of substantial growth in gross margins and revenues over the next decade.