J.P. Morgan Remains On The Sidelines For Plug Power - Here's Why
J.P. Morgan analyst Bill Peterson reiterated a Neutral rating on Plug Power, Inc., citing the company's revenue shortfall and customer warrant charges. Despite missing estimates, Peterson believes Plug Power can experience moderate growth in 2025 driven by increased material handling demand and margin improvements. The analyst remains cautiously optimistic about securing the DOE loan, but expects PLUG shares to remain range-bound until there is more clarity on the company's balance sheet and margin expansion.
- This cautious optimism may be a sign of J.P. Morgan's recognition that Plug Power's challenges are not insurmountable, but rather require a nuanced approach to overcome cash flow hurdles.
- How will the growing focus on hydrogen fuel cells and energy storage impact Plug Power's relationship with traditional utility companies and government agencies?