Like solar and wind power, many alternative energy advocates have touted the potential of hydrogen power for years. Investors in fuel cell companies like Plug Power (NASDAQ: PLUG) are still waiting, however, for the inflection point that marks the company's transition to sustained profitability. Perhaps in 2017, though, that time has come.
Rising 128% in 2017 as of this writing, Plug Power has delighted the market -- unlike in 2016 -- with several announcements, suggesting that the tide has turned. Thanks in part to a deal with Amazon.com (NASDAQ: AMZN), fuel cell fever is working its way through Wall Street. Indicating a bullish outlook on the stock, analysts at FBR Capital and Cowen have each identified a $3 price target on the stock. Moreover, an analyst at the investment bank Rodman and Renshaw issued a $4 price target. But Wall Street's enthusiasm doesn't necessarily mean investors should start powering their portfolios with this fuel cell industry leader.
Image source: Getty Images.
Source: Fool.com