Craig-Hallum lowered the firm’s price target on Plug Power to $4 from $5 and keeps a Buy rating on the shares. Plug Power reported Q2 results below expectations and issued FY24 revenue guidance for the first time shy of estimates, the analyst tells investors in a research note. The firm notes its focus throughout 2024 on margin and balance sheet improvement, which is only strengthened by its new COO, and sees substantial share upside depending on progress towards these goals.
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