Where is Plug Power (PLUG) Headed According to Analysts?

Plug Power Inc. (NASDAQ:PLUG) is one of the best long-term penny stocks to buy right now. On August 14, Wells Fargo analyst Michael Blum raised the firm’s price target on the stock to $1.50 from $1 while keeping an Equal Weight rating on the shares.

The firm cited a shift forward in the base year of its valuation model to 2026 and a slightly higher EBITDA forecast, stating that it is remaining on the sidelines due to the low visibility surrounding positive profit margins.

In a report released on August 12, David Arcaro from Morgan Stanley maintained a Sell rating on Plug Power Inc. (NASDAQ:PLUG), setting a price target of $0.75.

In another report released on the same day, BMO Capital also maintained a Sell rating on Plug Power Inc. (NASDAQ:PLUG) with a $1.00 price target.

The stock’s median price target of $1.63 implies an upside of 8.90% from current levels.

Plug Power Inc. (NASDAQ:PLUG) provides alternative energy technology focusing on the development, design, manufacturing, and commercialization of hydrogen and fuel cell systems that are primarily employed for the material handling and stationary power markets.

While we acknowledge the potential of PLUG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.