Susquehanna Hikes Plug Power Price Target to $3.75 as Project Quantum Leap Shows Progress

1 hour ago 4

David Moadel

Wed, May 13, 2026 astatine 10:10 AM CDT 4 min read

Quick Read

Susquehanna and Canaccord lifted their Plug Power (PLUG) banal terms targets to $3.75 and $4 respectively, citing borderline gains from Project Quantum Leap cost-reduction programme and $275M successful expected asset-monetization proceeds including $142M from Stream Data Centers closing June 2026.
Plug Power is executing a turnaround programme targeting affirmative EBITDAS by Q4 2026 and afloat profitability by extremity of 2028, prompting back-to-back expert upgrades contempt persistent execution risks including $150M quarterly operating currency burn.
The expert who called NVIDIA successful 2010 conscionable named his apical 10 stocks and Plug Power wasn't 1 of them. Get them present FREE.

Plug Power (NASDAQ:PLUG) banal conscionable received its 2nd expert terms people rise successful the aforesaid week. Susquehanna expert Charles Minervino lifted his terms people connected Plug Power to $3.75 from $2.75, keeping a Neutral standing pursuing the company's first-quarter results.

The revision tracks a crisp betterment successful Plug Power's underlying economics nether Project Quantum Leap, the cost-reduction overhaul launched successful 2025. For prudent investors weighing vulnerability to clean-energy turnaround stories, the back-to-back expert terms people rise actions adhd credibility to a thesis that has tested patience for years.

The displacement comes conscionable 2 days aft Canaccord raised its Plug Power terms people to $4 from $2.50, besides maintaining a Hold rating. Two firms wrong 1 week, some citing the aforesaid operational drivers, is simply a meaningful statement signal.

The expert who called NVIDIA successful 2010 conscionable named his apical 10 stocks and Plug Power wasn't 1 of them. Get them present FREE.

Ticker

Company

Firm

Action

Old Rating

New Rating

Old Target

New Target

PLUG	Plug Power	Susquehanna	Price Target Raise	Neutral	Neutral	$2.75	$3.75

The Analyst's Case

Susquehanna updated its exemplary aft Plug Power's Q1 2026 report, which showed gross of $163.51 million, up 22% twelvemonth implicit twelvemonth and beating the $139.76 cardinal consensus. Adjusted EPS came successful astatine antagonistic $0.08, topping estimates.

The bigger communicative is margin. Plug Power's GAAP gross borderline improved 42 percent points to antagonistic 13%, from antagonistic 55% a twelvemonth earlier. GenDrive per-unit work costs fell implicit 30% twelvemonth implicit year, and the hydrogen substance borderline complaint improved by 54 percent points.

Company Snapshot

Plug Power builds hydrogen substance compartment and electrolyzer systems nether the GenDrive, GenFuel, and GenEco brands. Customers see Amazon, Walmart, BP, Iberdrola, and NASA, and the institution carries an $8 cardinal electrolyzer pipeline with implicit 320 MW deployed globally.

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