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Plug Power, Ballard Power Extend Gains as Fuel-Cell Stocks Rocket – TheStreet
Fuel-cell stocks are higher on Wednesday. Plug Power and Renault agreed to create a 50-50 joint venture focused on vehicle systems based on hydrogen fuel cells.
Fuel-cell stocks, such as Plug Power (PLUG) – Get Report and Ballard (BLDP) – Get Report, continued higher Wednesday after news of a partnership between Plug Power and Renault for hydrogen-powered vans in Europe.
In addition, Truist on Tuesday initiated coverage of Plug Power with a buy rating and a $60 price target. Investors are plowing funds into electric cars and related shares.
Plug Power recently traded at $67.45, up 2.2%; Ballard Power at $35.47, up 3.2%; and FuelCell Energy (FCEL) -…
