Susquehanna lowered the firm’s price target on Plug Power (PLUG) to $1.80 from $2.50 and keeps a Neutral rating on the shares. The firm said they reported 4Q results with a miss on revenue and EPS, partially driven by a sizable impairment charge. The company is undertaking additional actions to reduce cash burn, including more layoffs, discretionary spend cuts, and limiting capex spend, with the aim of $150M-$200M of expense reduction.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PLUG:
- Plug Power’s Strategic Initiatives Amidst Challenges: A Hold Rating Justified
- Plug Power price target lowered to $1.10 from $1.40 at Piper Sandler
- Plug Power price target lowered to $1.25 from $2 at Canaccord
- Plug Power’s Hold Rating Reflects Balanced View of Risks and Opportunities Amid Revenue Shortfalls and Financing Challenges
- Plug Power’s Strategic Focus and Cost Reduction Drive Buy Rating Despite Challenges