H.C. Wainwright analyst Amit Dayal raised the firm’s price target on Plug Power to $14 from $6 and keeps a Buy rating on the shares. The stock closed Tuesday up 86c, or 15%, to $6.43 after Plug Power announced acquiring United Hydrogen Group and Giner ELX for $65M and $58M, respectively. These acquisitions further strengthen the company’s position in the fuel cell and hydrogen industry value chain, Dayal tells investors in a research note. He believes the two acquisitions should make Plug one of the largest hydrogen suppliers in the market.
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