- Plug Power (PLUG +3.3%) could turn profitable by the end of the year and an expansion to Asia could drive upside, Cowen analysts say.
- The firm visited Plug’s factor last week and says the visit highlighted Plug’s competitive advantages and preparations for ramping up productivity, seeing lower costs and shorter lead times under a more compact hydrogen system.
- The analysts expect sales growth of 68% through 2018, driven by more penetration in the U.S. and Europe as well as possible expansion to Asia.
- Shares are up 89% YTD and up nearly 600% in the past 12 months.
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