BMO Lowers Plug Power Inc. (PLUG) Price Target to $1

Plug Power Inc. (NASDAQ:PLUG) is among the 12 Low Price High Volume Stocks to Buy Right Now.

On March 3, BMO Capital Markets lowered the firm’s price target on Plug Power Inc. (NASDAQ:PLUG) to $1 from $1.30 while maintaining an Underperform rating following the company’s fourth-quarter results. The analyst noted that the company continues to shift its strategy toward becoming a more focused hydrogen application provider rather than primarily a green hydrogen supplier. Management has also indicated that asset sales and reduced capital expenditures expected in 2026 should help alleviate the need for additional equity financing.

The day before, Plug Power Inc. (NASDAQ:PLUG) reported that revenue for 2025 increased by approximately 13% compared with the prior year, driven primarily by growth in its material handling and electrolyzer businesses. Fourth-quarter GAAP earnings per share improved to negative $0.63 from negative $1.48 in the same period of 2024, while adjusted earnings per share improved to negative $0.06 from negative $0.29.

Plug Power Inc. (NASDAQ:PLUG) expects 2026 revenue growth to remain broadly in line with the roughly 13% growth achieved in 2025, led by continued demand for material handling applications and electrolyzer systems. Management also reiterated its target of achieving positive EBITDA in the fourth quarter of 2026 as part of a broader roadmap toward operating profitability by 2027 and full profitability by 2028. Additional operational improvements included a 125 percentage-point improvement in gross margin, significant reductions in unit service costs, and continued efficiency gains driven by the company’s Project Quantum Leap cost reduction initiative.

Plug Power Inc. (NASDAQ:PLUG) was founded in 1997 and is headquartered in Latham, New York. The company develops hydrogen fuel cell systems and electrolyzer technologies designed to replace conventional batteries in electric-powered equipment and vehicles. Plug Power’s continued focus on hydrogen infrastructure and fuel cell solutions positions it to participate in the expanding clean energy and hydrogen economy.

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