2021-08-16 22:00:02
Plug Power has released financial results for the last quarter. Net income was worse than expected, but revenue was surprising.
Plug Power Inc. $PLUG is a company that focuses on the design, development, commercialization and manufacturing of hydrogen and fuel cell systems.
Target price from RBC Capital - $35, upside potential +40%.
Growth catalysts:
• Financial results on sales for 2Q were better than forecasted. Revenue reached $125 million in Q2, although Wall Street analysts were expecting $113 million.
• Plug Power has partnered with ACCIONA, a green hydrogen company. Together, they plan to achieve a 20% stake in the clean hydrogen business in Spain and Portugal by 2030 with investments of over €2 billion.
• In partnership with French carmaker Renault, the company has formed a joint venture to take a 30% share of the European market for light commercial vehicles with fuel cells.
• Plug Power announced the construction of three new green hydrogen plants in the United States.
• Analysts are optimistic.
• The next catalyst for the growth of stock quotes may become a technology symposium, which will take place in October.
Fundamental indicators:
• Market cap: $14.3 billion
• P/S sector = 1.5x
• fwd revenue growth rate 47.94%
Not an investment recommendation.
2.3K views19:00