Shares of Plug Power Inc (NASDAQ:PLUG) are trading sharply higher Friday, continuing a powerful rally that has seen the hydrogen fuel-cell company’s stock climb over 120% in the past month. The stock is being propelled by an analyst update and operational news.
What To Know: Fueling the gains, H.C. Wainwright reiterated its Buy rating and more than doubled its price target on Plug to $7.00 from a previous $3.00. The firm highlighted that rising electricity costs and growing support for nuclear power are creating strong tailwinds for the green hydrogen industry, improving its cost-competitiveness.
