Plug Power (PLUG) Soars to All-Time High on Higher PT, Rating Upgrade

Core Insights - Plug Power Inc. (NASDAQ:PLUG) has reached an all-time high in stock price following a significant price target increase and rating upgrade from HC Wainwright [1][2] Group 1: Price Target and Rating Upgrade - HC Wainwright has more than doubled its price target for Plug Power from $3 to $7, while issuing a "buy" recommendation due to rising electricity prices in the US [2] - The US Energy Information Administration reported that electricity prices have increased by 6.6% for residential, 4.8% for commercial, and 5.1% for industrial sectors over the past year [3] Group 2: Business Developments - Plug Power has delivered its first 10-megawatt electrolyzer to Galp Energia, the largest energy company in Portugal, as part of a total of 10 deliveries for a 100-MW system [4] - This partnership with Galp is highlighted as Plug Power's largest worldwide project, which aims to produce up to 15,000 tons of renewable hydrogen annually, replacing 20% of the grey hydrogen used at the Sines Refinery [5]