UPDATE: Susquehanna Starts Plug Power (PLUG) at Positive

(Updated - January 26, 2022 6:58 AM EST)

Susquehanna analyst Biju Perincheril initiates coverage on Plug Power (NASDAQ: PLUG) with a Positive rating and a price target of $26.00.

The analyst comments "Our Positive rating largely reflects Plug’s top-line growth potential as the green hydrogen ecosystem develops over the next several years, allowing for the stock’s relatively rich valuation (2025 EV/Sales multiple of ~5.6x). Although we have a relatively cautious view of the hydrogen market (Link), we think Plug’s ability to provide integrated end-to-end green hydrogen solutions (from electrolyzers to hydrogen fuel, to fuel cells) will put it in a favorable position to generate double-digit annual top-line growth over the next decade."

For an analyst ratings summary and ratings history on Plug Power click here. For more ratings news on Plug Power click here.

Shares of Plug Power closed at $19.73 yesterday.

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