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​Plug Power Inc. (NASDAQ:PLUG) is one of the Best Rising Penny Stocks to Buy Now.

​On April 9, Susquehanna analyst Charles Minervino raised the firm’s price target on Plug Power Inc. (NASDAQ:PLUG) from $2.50 to $2.75, while keeping a Neutral rating on the shares. The firm noted that the increased price target comes as they updated their estimates in the alternative energy group ahead of Q1 2026 earnings.

On the same day, RBC Capital also raised the price target on the stock from $1.50 to $2.75 and maintained a Sector Perform rating on the shares. The firm quoted their talks with the CFO, Paul Middleton, and VP Director IR, Roberto Friedlander, highlighting the company’s path to profitability and growth. These talks resulted in a more optimistic view of the company’s near-term financial targets and the opportunity pipeline. The increased price target is based on multiple expansions of roughly 3.5 times 2026 sales.

​​Plug Power Inc. (NASDAQ:PLUG) develops hydrogen fuel cell product solutions in North America, Europe, Asia, and internationally.

While we acknowledge the potential of PLUG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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