Plug Power Stock Drops 18% This Year Despite Hydrogen Plans, But Analyst Sees Upside If Profits Materialize
• Plug Power (PLUG) stock has fallen 18% year-to-date while S&P 500 rose 7.4% • Analyst Jordan Levy hiked PLUG price target from $3 to $4, sees 16% upside • Levy bullish due to investors' enthusiasm about PLUG's new hydrogen production facility • However, PLUG reported larger Q4 loss of $2.62 per share, casting doubt on upside • Article advises holding off buying PLUG until company demonstrates profit growth