Plug Power's Ambitious 2024: Analyst Highlights Electrolyzer Expansion And Hydrogen Production Efficiency
Portfolio Pulse from Lekha Gupta
J.P. Morgan analyst Bill Peterson discussed Plug Power Inc.'s (NASDAQ:PLUG) 2024 outlook, highlighting the company's guidance for ~15% of annual revenue in Q1 with 10%-15% Y/Y growth, second-half revenue weight, and plans to deploy 300MW-400MW of electrolyzers mainly in Europe. The company aims for hydrogen production at $4-$5/kg, potentially $3/kg from its Texas plant, and expects improved fuel margins from Q2 onwards. Plug Power also exchanged existing notes for new convertible senior notes.
March 15, 2024 | 4:09 pm
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Plug Power Inc. discussed its 2024 outlook, including revenue guidance, electrolyzer expansion in Europe, and hydrogen production efficiency improvements. The company also announced the exchange of existing notes for new convertible senior notes.
The positive outlook for 2024, including expected revenue growth and plans for electrolyzer deployment, indicates strong future prospects for Plug Power. The efficiency improvements in hydrogen production and the strategic financial move of exchanging notes for new convertible senior notes are likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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