On Nov 14, major Wall Street analysts update their ratings for $Plug Power (PLUG.US)$, with price targets ranging from $1.4 to $5.
Morgan Stanley analyst Andrew Percoco maintains with a sell rating, and maintains the target price at $1.75.
Wells Fargo analyst Michael Blum maintains with a hold rating, and maintains the target price at $2.
Evercore analyst James West maintains with a buy rating, and adjusts the target price from $5 to $4.
TD Cowen analyst Jeff Osborne maintains with a buy rating, and maintains the target price at $4.
BTIG analyst Gregory Lewis downgrades to a hold rating, and maintains the target price at $5.
Furthermore, according to the comprehensive report, the opinions of $Plug Power (PLUG.US)$'s main analysts recently are as follows:
Analysts note that following the company's annual Symposium, where its growth strategy and focus on cost reduction were highlighted, alongside strategies to manage political risks potentially arising from a Republican sweep, the company has set new revenue targets which fell short of the consensus.
The company is diligently working to extend its liquidity period in anticipation of a rise in hydrogen order momentum. Although there is a clear upward trend in global hydrogen demand, it is increasing at a rate slower than initially anticipated. Plug Power remains well-situated for the worldwide hydrogen expansion, yet there is a necessity for enhanced demand and additional product sales to bolster profit margins, which appears to be deferred.
The firm anticipates that top-line growth and margins will be 'somewhat subdued' owing to the macroeconomic environment and the scaling of operations through 2024 and 2025. However, expectations are set for growth to accelerate and margins to expand in the latter half of the decade as the business reaches critical mass.
Here are the latest investment ratings and price targets for $Plug Power (PLUG.US)$ from 8 analysts:
Note:
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