Oppenheimer Reiterates Perform Rating on Plug Power (PLUG)

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

The analyst commented; "PLUG posted better than expected results as efforts on cost management continue to bear fruit. We are encouraged by steady progress on building its sales pipeline to $8B and gaining incremental momentum on converting it into sales. We see momentum in material handling as critical to reaching profitability metrics as it is PLUG's most mature segment with a history of strong GM for equipment. We see ongoing progress on fuel costs as constructive but are looking for the company to begin realizing incremental price improvements. From a cash perspective, we are encouraged by further working capital optimization along with the start of monetizing its interconnection queue assets. We believe the company is executing well on the path to reaching EBITDAS+ in 4Q26."

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 $1.81 yesterday.

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