Piper Sandler analyst Kashy Harrison maintains $Plug Power (PLUG.US)$ with a sell rating, and adjusts the target price from $1.6 to $1.4.
According to TipRanks data, the analyst has a success rate of 37.9% and a total average return of -13.1% 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's adjusted expectations for Plug Power follow the company's annual Symposium, which emphasized its growth strategy, focus on reducing costs, and approaches to handling political risks associated with the potential Republican sweep. The firm notes that the company's new revenue targets were below consensus expectations.
The company is taking appropriate measures to extend its liquidity horizon while anticipating an acceleration in hydrogen order momentum. Although the global demand for hydrogen is on an upward trend, the pace of growth is not meeting initial expectations. The company's products are well-aligned with the worldwide hydrogen infrastructure expansion, yet the need for increased demand and additional product sales to enhance profit margins is becoming evident as it faces delays.
There is an expectation that while top-line growth and margins may remain muted in the near term due to the current macroeconomic conditions and the scaling of operations through 2024 and 2025, a significant increase in growth and margin expansion is projected for the latter half of the decade once the business reaches a pivotal scale.
Note:
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