Plug Power Inc
PLUG: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$5.00 | Tvjp | Pmsc |
Plug Power Earnings: Execution Challenges Continue; Lowering Fair Value Estimate to $11.50
We lower our fair value estimate for no-moat Plug Power to $11.50 per share from $14 following its second-quarter results. The primary driver of our decreased valuation is lower margins as we now expect a protracted margin ramp in the years ahead. We see shares as slightly undervalued following the share price selloff and we continue to view the company as a high-risk, high-reward investment on the green hydrogen economy.