Wells Fargo analyst Michael Blum lowered the firm’s price target on Plug Power (PLUG) to $2 from $3 and keeps an Equal Weight rating on the shares after the company hosted its annual Symposium, highlighting the company’s growth strategy, emphasis on cost reduction and how to navigate political risks tied to the Republican sweep. Wells cites Plug’s new revenue targets that missed consensus.
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Read More on PLUG:
- Will Plug Power Stock Rebound to $5? Here’s What BTIG Expects
- Plug Power downgraded to Neutral from Buy at BTIG
- Plug Power price target lowered to $4 from $5 at Evercore ISI
- Plug Power price target lowered to $2.25 from $2.50 at Canaccord
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