Latest news for Acciona (OTC:ACXIF) Stock

Acciona SA is an engineering and construction firm providing sustainable solutions for infrastructure and renewable energy projects across the world. It works in various phases, from design and construction to operations and maintenance. The company operates two business divisions energy and infrastructure. The infrastructure division encompasses construction, water treatment, industrial, and service business lines. Projects may be granted under concessions from governments or acquired independently when Acciona identifies an opportunity. Energy developments focus on renewable technologies and primarily revolve around wind, solar, hydro, and biomass. The company has a presence on five continents and utilizes an organizational structure to ensure availability.

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Plug Power, Inc., a 3Hydrogen fuel-cell energy company, has been making strides with its execution on all fronts.

Why This Analyst Is Bullish On Plug Power

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Benzinga&#39;s Top Upgrades, Downgrades For September 27, 2019

Acciona SA

Acciona

Plug Power, Inc., a&nbsp;3Hydrogen fuel-cell energy company, has been making strides with its execution on all fronts.

The Plug Power Analyst: KeyBanc Capital Markets analyst Leo Mariani initiated coverage of Plug Power shares with an Overweight rating and $40 price target, suggesting more than&nbsp;40% upside from current levels.

The Plug Power Thesis: <a href=" https://www.benzinga.com/analyst-ratings/analyst-color/21/01/19143708/why-plug-powers-lead-in-fuel-cell-hydrogen-space-could-create-outsized-winner"> Plug Power</a>&nbsp;has a leading industry position as it has one of the largest scale businesses compared to its public peers, analyst Mariani said in a note.

The company is a dominant player in the material handling business with nearly 90% market share, the analyst said, citing data from the Fuel Cell &amp; Hydrogen Energy Association. Plug Power&#39;s key customers for its material handling business include Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), General Motors Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), Walmart&nbsp;Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and Home Depot&nbsp;Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>), he added.

Related Link: <a href=" https://www.benzinga.com/news/earnings/21/11/24000743/plug-power-raises-revenue-guidance-after-mixed-q3-announces-frames-acquisition?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+benzinga%2Fnews%2Fguidance+%28Channels+-+News+-+Guidance%29"> Plug Power Raises Revenue Guidance After Mixed Q3, Announces Frames Acquisition </a>

Additionally, the company has&nbsp;<a href=" https://www.benzinga.com/news/21/01/19127108/plug-power-rallies-on-jv-partnership-with-renault-for-hydrogen-powered-vehicles-in-europe">strategic partnerships</a>&nbsp;with major industry players such as SK Group in South Korea, Renault ADR&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/RNLSY#OTC">RNLSY</a>) in France, Acciona&nbsp;SA&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/ACXIF#OTC">ACXIF</a>) in Spain&nbsp;and Fortescue Metals Group ADR&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/FSUGY#OTC">FSUGY</a>) in Australia that helps it gain a toehold into key growth markets, the analyst noted.

The company, the analyst said, is aiming for growing revenues at a 53% CAGR through 2024 and hopes to become profitable by then as well, and sees potential for $3B in revenue by 2025.

&quot;Recent execution at PLUG has been solid a bit as the Company beat consensus revenue expectations in three of the last four quarters,&quot; the analyst said in the note.

Plug Power also has a strong liquidity position with around $3.5 billion in cash on its balance sheet as of Sept. 30, 2021, with much of it coming from a number of large equity financing deals over the last few years, the analyst noted.

The company may have to burn cash for at least the next several years to hit its aggressive growth goals and may need to eventually raise equity for its expansion plans, he added.

PLUG&nbsp;Price Action: Plug Power shares were down 5.97% at $26.47 Wednesday afternoon at publication. 
Related Link: <a href=" https://www.benzinga.com/analyst-ratings/analyst-color/21/11/24013930/why-plug-power-analysts-see-a-margin-improvement-story-with-outsized-growth-prospec"> Why Plug Power Analysts See A Margin Improvement Story With Outsized Growth Prospects </a>

Photo: Courtesy Plug Power

Benzinga's Top Upgrades, Downgrades For September 27, 2019

Barclays initiates coverage on Acciona (OTC:<a class="ticker" href="/stock/ACXIF#OTC">ACXIF</a>) with a Overweight rating.

Barclays Initiates Coverage On Acciona with Overweight Rating

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