Analysts boost PLUG price targets to $3.75-$4 following Q1 margin progress and cost-reduction initiatives.
Plug Power (NASDAQ:PLUG) saw multiple price target increases after reporting Q1 results, with Susquehanna lifting its target to $3.75 from $2.75 and maintaining a Neutral rating. The company’s cost-reduction efforts under Project Quantum Leap drove margin improvements, though gross margins remain negative.
BMO Capital raised its target to $1.20 from $1, keeping an Underperform rating, while Canaccord increased its target to $4 from $2.50, reaffirming a Hold. Plug Power aims for positive EBITDAS by Q4 2026 and expects over $275 million from asset monetization initiatives.
The stock ranks among the most traded in the US this year, reflecting investor focus on its profitability roadmap and execution progress.