Plug Power's 2025 Bet On Electrolyzers—J.P. Morgan Sees Growth But Stays Conservative

J.P. Morgan analyst Bill Peterson shared key takeaways from the conference hosted for Plug Power, Inc. (NASDAQ:PLUG), with a Neutral rating.

The analyst writes that the discussions mainly centered on the demand outlook across its three key verticals, cost-saving initiatives, and the financial roadmap for the year.

Although not a central topic, there are signs of potential support from the new administration for Plug’s Texas DOE loan. Meanwhile, the timeline for the first loan disbursement, if approved, remains unclear, adds the analyst.

The analyst notes that Plug recently lowered its full-year revenue guidance to ~$700 million-$800 million from the previous $850 million-$950 million, citing macro headwinds ...