Oppenheimer Reiterates Perform Rating on Plug Power (PLUG)

Oppenheimer analyst Colin Rusch reiterated a Perform rating on Plug Power (NASDAQ: PLUG).

The analyst commented: "This morning, Plug Power announced it has signed a framework agreement for 3GW of electrolizers with Allied Green Ammonia. We understand this project is nearing final investment decision, but that land and electricity procurement is complete and that the production of the facility is already contracted for with Trammo, a physical commodities trading and logistics company which serves numerous markets including the ammonia and fertilizer markets. We believe the deal represents $1.0-1.5B+ in revenue for PLUG, to be recognized largely in 2026E/27E. Beyond the impact of this deal on PLUG financials, we see a project of this scale as a meaningful validation of the green hydrogen space and PLUG's leadership in it. We would expect shares to trade higher as investors begin to understand the significance of this project and get comfortable that it will move forward."

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 $2.15 yesterday.

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