Plug Power gains after H.C. Wainwright raises PT

Plug Power

03/10/2025 15:03

Updates

**  Shares of hydrogen fuel cell maker Plug Power PLUG.O soars 26% to $3.56, their highest level in over 14 months

** H.C. Wainwright hikes PT to $7 from $3, citing rising electricity prices and stronger regulatory support for nuclear power

** New PT represents nearly 150% upside to PLUG's last close, ties it with Northland Securities for the highest among Wall Street

** Brokerage notes robust data center power demand and industrial electrification pushes power costs up, making green hydrogen more price-competitive and supporting its adoption

** Says U.S government's support for nuclear energy, especially small modular reactors could help accelerate adoption of green hydrogen as this provides stable and carbon-free power enabling cheaper hydrogen production

** Seven of 25 brokerages rate stock "buy", 13 "hold" and five "sell" or lower; their median PT is $1.8 - data compiled by LSEG

** Including session's move, PLUG up nearly 66% YTD

 (Reporting by Avinash P in Bengaluru)

 ((Avinash.P@thomsonreuters.com;))