• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • About Us
  • Contact Us
IRA vs 401k

IRA vs 401k

Retirement Options

  • Home
  • Roth IRA
  • Roth 401k
  • SEP IRA
  • Simple IRA
  • 401K
  • Finanace
You are here: Home / Finanace / Plug Power Is a Winner, but Wait for a Better Entry Point, Says J.P. Morgan

Plug Power Is a Winner, but Wait for a Better Entry Point, Says J.P. Morgan

January 28, 2021 by Retirement

Plug Power (PLUG) shares have kicked off 2021 with a bang, rising nearly 90% since the turn of the year. The PLUG narrative is benefiting from favorable macro conditions; A new U.S. administration intent on forwarding the case for clean energy is acting as a strong catalyst, driving positive investor sentiment toward the stock.

Adding to the good news, the company said it has exceeded its 2020 gross billings target, while it expects to beat its previous 2021 estimates. The company previously guided for $450 million in billings in 2021, but now anticipates $475 million, a 5.5% increase. Further ahead, by 2024, PLUG is targeting $1.7 billion in sales, 40% above the previous estimate.

Add into the mix a recent $1.5 billion investment in return for a 10% stake in the company from South Korea’s SK Group, and a joint venture with French automaker Renault to develop hydrogen-powered light commercial vehicles, and it’s no wonder J.P. Morgan analyst Paul Coster calls the company a “best-in-class long-term idea.”

“A good story keeps getting better,” Coster said. “With PLUG capitalizing on its leadership position in Hydrogen energy and mobility solutions by nailing down customers and partners that expand the TAM, improve visibility and de-risk execution. The firm is also capitalizing on its soaring market cap to issue shares, building a balance sheet that will permit the company to execute its growth strategy with confidence.”

However, while the analyst anticipates “meaningful profitability in 2023-24,” the stock appears “richly valued” compared to peers.

As a result, Coster rates PLUG shares a Neutral (i.e. Buy), along with a $70 price target. This figure implies ~9% upside from current levels. (To watch Coster’s track record, click here)

“We look for a pullback as an opportunity to get into this stock,” the analyst summed up.

While Coster sits on the sidelines waiting for PLUG stock to reset itself, most analysts remain on board. According to TipRanks analytics, out of 12 analysts, 10 say Buy while 2 suggest Hold. But there’s a catch; the analysts, while keen on the company, evidently think shares have soared enough as the $60 average price target indicates. (See PLUG stock analysis on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

Filed Under: Finanace

Primary Sidebar

E-mail Newsletter

More to See

Tax Advantages of IRA and 401(k) Accounts

Exploring the Tax Advantages of IRA and 401(k) Accounts

July 18, 2023 By SEO Robot

Choosing Between IRA and 401(k): Making the Right Retirement Savings Decision

July 18, 2023 By SEO Robot

How do you pay taxes on a Roth conversion?

Traditional IRA vs 401(k): Understanding the Differences and Making Informed Retirement Choices

July 18, 2023 By SEO Robot

IRA vs 401(k)

IRA vs 401(k): Understanding the Differences and Making Informed Retirement Choices

July 18, 2023 By SEO Robot

How a Limo Service Can Make Your Trip More Comfortable

February 1, 2023 By seo_automation_owner

The Roth IRA

November 30, 2022 By Retirement

How much should I put in my 401k per paycheck?

How much should I put in my 401k per paycheck?

September 6, 2022 By

Footer

  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms of Use
  • Google News

Recent

  • IRA vs 401(k): Understanding the Differences and Making Informed Retirement Choices
  • Traditional IRA vs 401(k): Understanding the Differences and Making Informed Retirement Choices
  • Choosing Between IRA and 401(k): Making the Right Retirement Savings Decision
  • Exploring the Tax Advantages of IRA and 401(k) Accounts
  • Understanding the Differences Between IRAs and 401(k) Plans