Plug Power shares rose another 4% in premarket trading.One side,president Joe Biden's Build Back Better plan may still benefit fuel cell stocks like Plug Power;on the other hand,Wall Street is waxing bullish on Plug Power.
US President Biden discussed his framework, which includes a national network of 500,000 electric vehicle charging stations.
Clean energy and EV-related stocks have gained this year in anticipation of a US infrastructure bill, as clean energy and EV charging have been seen as beneficiaries of Biden's economic and infrastructure agenda.
According toStreetinsider.com, Pearce Hammond, an analyst at Piper Sandler, hiked the price target on Plug Power's stock to $46 from $37, keeping an overweight rating.
Also,Morgan Stanleyrecently upgraded the stock from Equal-Weight to Overweight and announced a $40 price target.