Plug Power Is a Winner, but Wait for a Better Entry Point, Says J.P. Morgan
Plug Power (PLUG) shares have kicked off 2021 with a bang, rising
nearly 90% since the turn of the year. The PLUG narrative is
benefiting from favorable macro conditions; A new U.S.
administration intent on forwarding the case for clean energy is
acting as a strong catalyst, driving positive investor sentiment
toward the stock. Adding to the good news, the company said it has
exceeded its 2020 gross billings target, while it expects to beat
its previous 2021 estimates. The company previously guided for $450
million in billings in 2021, but now anticipates $475 million, a
5.5% increase. Further ahead, by 2024, PLUG is targeting $1.