KeyBanc downgraded Plug Power to Sector Weight from Overweight without a price target. The analyst says the company faces a "series of headwinds" in the near term. Plug Power’s need for external capital creates an overhang in the current environment, the analyst tells investors in a research note. In addition, the recent departure of the head of Electrolyzers with no clear replacement in place comes at a difficult time, says the firm.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on PLUG:
- Plug Power price target lowered to $12 from $17 at Piper Sandler
- Plug Power call volume above normal and directionally bullish
- Down More Than 60%: Analysts Say Buy These 3 Beaten-Down Stocks Before They Rebound
- Plug Power manufactured 122MW of its 1MW electrolyzer stack platform in Q1
- Plug Announces Record Production of PEM Electrolyzer Stacks in Q1 2023; On Track to Meet 100MW per Month Target in Q2