Plug Power (PLUG) PT Raised to $4 at UBS

UBS analyst Manav Gupta raised the price target on Plug Power (NASDAQ: PLUG) to $4.00 (from $1.75) while maintaining a Neutral rating.

The analyst commented, "PLUG reported EPS of ($0.18) vs. Street of ($0.10). PLUG reported revenues of $163.5M vs. $225.2M in 4Q25 and $133.6M in 1Q25. PLUG reported gross margin loss of ($21.6M) in 1Q26 vs. $5.5M in 4Q25 and ($73.8M) in 1Q25. The 71% improvement in overall margin was driven by sales growth, cost optimization, improved service execution, and fuel sourcing efficiencies. Gross margin was (13%) vs. 2.4% in 4Q25 and (55%) in 1Q25. PLUG reported 1Q26 operating loss of ($109.5M) vs. ($763.2M) in 4Q25 and ($178.5M) in 1Q25. The company still plans to achieve its positive EBITDA target in 4Q26."

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