Looking out further in time, Plug Power projects annual sales of $20 billion and 35% gross margin for 2030. Plug Power envisions robust multi-year sales, and Wall Street has set a high consensus price target on the company’s shares. Ambitiously but not unrealistically, Plug Power is targeting annual sales of $5 billion and 30% gross margin for 2026. Plug Power’s gigafactory sets the company apart from the competition and should contribute to improvements in Plug Power’s revenue and margins. Located in Rochester, New York, the gigafactory features over 2 gigawatts of electrolyzers, 60,000 fuel cell stacks and 2.5 gigawatts of output capacity. Historical and forecast chart of Plug Power stock The chart below shows the historical price of Plug Power stock and a prediction chart for the next year. 50 Day Moving Average is the resistance level ( 9.17 ). Today 200 Day Moving Average is the resistance level ( 15.7 ). Plug Power’s gigafactory, where the company produces green hydrogen on a massive scale, will be a central part of the company’s growth story. 1w 1m 6m ytd 1y 3y 5y max Mountain-Chart Date Compare with Compare with up to 5 Stocks On Tuesday the closing price of the Plug Power Inc. The minimum target price for Plug Power analysts is 18.89. As the hydrogen economy accelerates, Plug Power will undoubtedly have opportunities to increase its sales and firm up its bottom line. With the IRA providing a tailwind, Plug Power can reasonably expect to expand its sales and margins over the coming years.
Plug Power Has High Sales and Margin Targets TAM in stationary power, a $30 TAM in material handling and a $10 trillion TAM in the hydrogen economy.
Furthermore, the company envisions a $265 billion U.S. In particular, Plug Power sees a $300 billion target addressable market (TAM) in electric vehicles (EVs). Hydrogen could become a go-to energy source due to its “unmatched energy density.” In addition, hydrogen is value-added as it “outplays battery electricity when it comes to range, recharging times, and emissions.”Īmid this favorable backdrop, Plug Power expects to be able to address multiple upward-trending markets. As Luke Lango pointed out, Morgan Stanley (NYSE: MS) estimates that the hydrogen economy will create an $11 trillion market. PLUG stock doesn’t deserve to be under $10, especially considering how fast and far the hydrogen industry is expected to expand. Hydrogen Market’s Growth Will Boost PLUG Stock
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