Overview

• HC Wainwright raised Plug Power’s price target to $7 from $3 and upgraded the stock to buy.
• Shares surged to a new all-time high Friday following the call.
• The firm highlighted EIA data showing U.S. electricity prices up 6.6% for residential, 4.8% for commercial, and 5.1% for industrial users over the past year.
• Plug reported delivery of the first 10‑MW electrolyzer to Galp in Portugal, the first unit in a 100‑MW system with the remaining machines targeted by early 2026.
• Peer FuelCell Energy jumped about 22% despite no direct Wainwright coverage, with moves tied to sector correlation, differing short interest (~31% for Plug vs. ~7% for FuelCell), and FuelCell’s continued unprofitability not expected to end before 2030.