B. Riley raised the firm's price target on Plug Power to $5 from $3 and keeps a Buy rating on the shares. Plug Power reported Q1 revenue well above expectations alongside improving gross margins, supported by cost actions from its "Project Quantum Leap" initiative, with management guiding to 13%-15% full-year revenue growth, sequential margin improvement through 2026, and a path toward positive EBITDAS in Q4 driven by stronger 2H seasonality, operational discipline, and planned asset monetization proceeds, the analyst tells investors in a research note.
