BMO Capital Lowers Price Target on Plug Power to $1.00 Amidst Unchanged Rating

BMO Capital has lowered the price target for Plug Power (PLUG) to $1.00, down from $1.10, while maintaining an "Underperform" rating. The move represents a -9.09% change. Historically, Plug Power has seen several changes in price targets and ratings from different analysts, with some firms maintaining a "Hold" or "Neutral" rating while others have held an "Underweight" or "Equal-Weight" rating. The average target price for Plug Power is $2.28, indicating an upside of 59.55% from the current price.

BMO Capital has revised its price target for Plug Power (NASDAQ:PLUG), reducing it to $1.00 from $1.10 while maintaining an "Underperform" rating. This move represents a -9.09% change in the price target [1]. The firm cited concerns about Plug Power’s dwindling unrestricted cash balance, which has fallen to $141 million after the company burned through another $232 million during the second quarter [1].

Historically, Plug Power has experienced various changes in price targets and ratings from different analysts. Some firms have maintained a "Hold" or "Neutral" rating, while others have held an "Underweight" or "Equal-Weight" rating [1]. The average target price for Plug Power is $2.28, indicating a potential upside of 59.55% from the current price [1].

Despite the recent decline in cash balance, Plug Power reported robust year-on-year revenue growth of 21.4% in the second quarter of 2025, with sales reaching $174 million [2]. The company also beat Wall Street’s revenue estimates by 10.4% [2]. However, the company continues to operate at a significant loss, with an adjusted EBITDA of -$149.1 million and an operating margin of -102% [2].

Analysts have mixed views on Plug Power. While BMO Capital remains concerned about the company’s cash position, other firms like H.C. Wainwright maintain a "Buy" rating with a price target of $3.00, citing improved service margins driven by the Project Quantum Leap initiative [1]. Meanwhile, Wolfe Research reiterated a "Peerperform" rating, expressing concerns about delayed hydrogen production tax credit rules impacting growth, and JPMorgan reiterated a "Neutral" rating, noting that Plug Power’s second-quarter revenue exceeded estimates despite higher cash burn [1].

Plug Power is set to release its earnings report on August 11, 2025, with analysts projecting a significant upside potential for the stock. The company's stock price has been volatile, with a 23.08% drop over the last 52 weeks, but analysts are bullish on its prospects [3]. Wall Street analysts have set their one-year price targets for Plug Power, with an average target price of $2.29, indicating a potential upside of 51.93% from the current trading price of $1.51 [3].

Investors should closely monitor Plug Power's earnings report to gauge the company's performance and make informed investment decisions.

References:
[1] https://www.investing.com/news/analyst-ratings/bmo-capital-lowers-plug-power-stock-price-target-to-100-on-cash-concerns-93CH-4185677
[2] https://finance.yahoo.com/news/plug-power-nasdaq-plug-q2-201050577.html
[3] https://www.ainvest.com/news/plug-power-anticipates-earnings-analysts-project-significant-upside-2508/