Susquehanna and Canaccord lift Plug Power targets to $3.75 and $4, citing cost cuts and $275M in asset monetization proceeds.
Two brokerages raised Plug Power (PLUG) price targets this week, reflecting confidence in its Project Quantum Leap turnaround plan. Susquehanna set a $3.75 target, up from $2.75, while Canaccord increased its target to $4 from $2.50, both citing margin improvements and $275M in expected asset sales, including $142M from Stream Data Centers closing in June 2026.
Plug Power aims for positive EBITDAS by Q4 2026 and full profitability by 2028, though execution risks remain, including a $150M quarterly operating cash burn. The upgrades follow first-quarter results and mark the second such revision in a week, signaling growing analyst support for the clean-energy firm’s recovery efforts.
Both firms maintained Neutral or Hold ratings, underscoring cautious optimism. The back-to-back upgrades highlight progress in Plug Power’s cost-reduction initiatives, though challenges persist in sustaining operational improvements.