Why Plug Power Stock Jumped Today

The stock of hydrogen fuel company Plug Power (NASDAQ: PLUG) hasn't had a great year so far. Shares are down about 20% year to date, but at least one analyst thinks that makes now a good time to buy. A new outperformance rating has shares jumping today. After moving as much as 5.4% higher early Wednesday, shares trimmed those gains, but still remained almost 4% higher as of 1:25 p.m. EDT. 

Analyst Steve Fleishman from Wolfe Research initiated coverage of Plug Power with the equivalent of a buy rating, and believes the stock could reach $34 per share, as reported by StreetInsider.com. That represents more than 30% upside from Tuesday's closing price. 

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Source Fool.com