RBC Capital analyst Chris Dendrinos maintains $Plug Power (PLUG.US)$ with a hold rating, and adjusts the target price from $2.5 to $2.
According to TipRanks data, the analyst has a success rate of 37.9% and a total average return of -1.8% 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 company's growth strategy, focus on reducing costs, and approaches to managing political risks associated with potential political shifts were underscored during their annual Symposium. The new revenue targets presented by the company, which fell short of the consensus expectations, were also noted.
The company is taking the necessary measures to extend its liquidity as it anticipates an increase in hydrogen orders. Although the global demand for hydrogen is on the rise, the growth rate has not met expectations. The company's product line is well suited for the worldwide expansion of hydrogen infrastructure; however, the need for greater product sales to enhance profit margins has resulted in a delay.
It is anticipated that top-line growth and margins will be somewhat tempered in the near term due to the current macroeconomic environment and the scaling of operations through 2024 and 2025. However, it is expected that growth will pick up pace and margins will widen as the latter part of the decade approaches, coinciding with the business reaching a pivotal scale.
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