1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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We initiate coverage of Plug Power with a no-moat, stable trend rating and $20 fair value estimate. We see opportunity in shares following a recent pullback, with shares trading 20% below our fair value estimate.
Plug Power is building an end-to-end green hydrogen ecosystem – from production, storage and delivery to energy generation. The company plans to build and operate green hydrogen highways across North America and Europe. Plug will deliver its green hydrogen solutions directly to its customers and through joint venture partners into multiple end markets—including material handling, e-mobility, power generation, and industrial applications.
