Evercore analyst James West maintains $Plug Power (PLUG.US)$ with a buy rating, and adjusts the target price from $4 to $3.
According to TipRanks data, the analyst has a success rate of 39.2% and a total average return of -8.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Plug Power (PLUG.US)$'s main analysts recently are as follows:
The firm has adjusted its perspective on Plug Power following the company's annual Symposium which focused on its growth strategy, cost reduction efforts, and strategies for managing political risks that may arise from a Republican sweep. The company's new revenue targets, which fell short of consensus expectations, were also noted.
The company is taking steps to enhance its liquidity while anticipating an increase in hydrogen order momentum. Although global hydrogen demand is growing, it is at a pace that is slower than initially anticipated. Plug Power's product line is considered to be well-suited for the expanding global hydrogen market, yet there is a need for more product sales to enhance margins, which appears to be delayed.
Although the macroeconomic environment and the scaling of operations are expected to moderate top-line growth and margins in the near term, there is an anticipation of an acceleration in growth and an expansion of margins towards the latter half of the decade, as the business approaches a critical scale.
Note:
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