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Plug Power (NASDAQ:PLUG) stock is worth checking out on Thursday as one analyst believes the company represents a $10 trillion opportunity.
UBS analyst Manav Gupta kicked off their coverage of PLUG stock with positive comments about its hydrogen plans. The analyst notes that the hydrogen market could hit $10 trillion by 2023 and Plug Power is poised to lead it with its work in the space.
However, that doesn’t mean there’s no risk in investing in PLUG stock. In fact, Gupta goes so far as to say there’s great risk in doing so, but an investment could also yield a great reward. That’s something investors will want to keep in mind when considering a stake in the green energy company.
A New Rating for PLUG Stock
The UBS analyst’s coverage also included a “buy” rating and a $26 price target for Plug Power stock. Gupta’s price target represents a potential 84% upside for the shares. To put this in perspective, the analysts’ consensus rating for PLUG is a “moderate buy” with a $27.09 price prediction.
Trading volume for PLUG stock today is strong with some 13 million shares on the move as of this writing. That’s not bad compared to its daily average trading volume of about 17 million shares.
PLUG is down 3.4% as of Thursday afternoon and is down 49% year-to-date.
Investors seeking more of the latest stock market news are in luck!
InvestorPlace has all of the hottest stock market news traders need to know about on Thursday! That includes what’s going on with shares of Blue Apron (NYSE:APRN), Third Harmonic Bio (NASDAQ:THRD), and a new deal for PLUG. You can read up on that news at the following links!
More Thursday Stock Market News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
