More upside ahead for Plug Power, Cowen says

|About: Plug Power, Inc. (PLUG)|By:, SA News Editor

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.