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Price of plug power11/27/2023 I’ll have a $900 per month pension and will get Social Security, but only have $150K in my 401(k). Hydrogen fuel cell pioneer Plug Power (PLUG-3.75) isnt looking too healthy this morning, either (albeit for different reasons), as its stock tumbled 7. I’m a 61-year-old flight attendant who wants to retire at 70. ‘I couldn’t sleep last night.’ I’m 58 with $620K in my 401(k) and a $1.7M house - but live in California. Paid off your mortgage? Be careful - you’re at risk of title theft. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.‘She says it’s not fair’: My wife will retire at 62, and I’ll be ready at 59. On the date of publication, Larry Ramer was long PLUG. BMO Capital also reaffirmed a buy rating on the APD stock, with a target price of $365 a share. The firm just raised its price target to $330 from $322 a share. And given the country’s vast wealth, they can spend huge amounts making sure that APD has sufficient funds to become a huge player in green hydrogen. Analysts at Mizuho appear to like the APD stock here, too. The Saudis obviously have big plans for APD in the hydrogen space. Moreover, Saudi Arabia’s sovereign wealth fund reported that it owned 2.75 million shares of APD stock as of the end of Q2, up from 2.7 million at the end of Q1. As I noted in a previous column, APD launched a joint venture in the region to create ” 650 tons per day” of green hydrogen. Air Products & Chemicals (APD)Īir Products & Chemicals (NYSE: APD) appears to be Saudi Arabia’s key partner when it comes to hydrogen. Sector Alternative Fuels Sales or Revenue 701.44 M Industry Companies on the Energy Service 1Y Sales Change 39.63. That includes Barclays, JP Morgan, Wells Fargo, Mizuho, BMO Capital, and HSBC. But analysts are still upbeat, with many raising their price targets. Revenue of $8.2 billion unfortunately missed estimates by $500 million. It also increased its full-year 2023 adjusted EPS to a range of $13.80 to $14, which is about 12% to 14% growth year over year. With earnings, the company just posted Q2 EPS of $3.57, which beat expectations by nine cents. Specifically, the company at the beginning of this year announced that it was launching “several green hydrogen projects it is planning across the U.S.,” as noted by Seeking Alpha. By the end of next year, Linde says that its green hydrogen production will allow it “to avoid up to 75K metric tons/year of carbon dioxide equivalent emissions.” Linde (NYSE: LIN) is “the largest liquid hydrogen producer in the U.S.,” and is looking to exploit the green hydrogen boom. In addition, analysts at Jefferies just assumed coverage of Plug Power with a buy rating, with a price target of $12 per share. Also, let’s not forget that the global hydrogen electrolyzer market – valued at $350.6 million in 2021 – could be worth about $3.7 billion by 2032, as noted by Future Market Insights. Morgan Stanley Adjusts Plug Power Price Target to 10 From 15, Maintains Equal Weight Rating Sector Update: Energy Stocks Rising Late Afternoon Plug Power to. Helping, the company reiterated its full-year revenue guidance of $1.2 billion to $1.4 billion, which is in line with expectations. And, despite the losses, the company has said it has “clear short-term goals to improve profitability in the second half of 2023 and position additional cost-down initiatives through 2024 as we significantly ramp sales volumes.” So, all is not lost here. However, revenues did rise about 72% year over year to $260.2 million. Granted, the company’s net loss increased to $236.4 million, or 40 cents a share from a loss of 30 cents, year over year. The latest earnings-induced pullback in Plug Power (NASDAQ: PLUG) may be a buying opportunity.
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