H.C. Wainwright analyst Amit Dayal lowered the firm’s price target on Plug Power (PLUG) to $5 from $18 and keeps a Buy rating on the shares. The firm cites the company’s lower than expected outlook provided at its annual symposium for the target cut. Management is now targeting revenues of $850M-$950M for 2025, compared to previous expectations of approximately $1.5B for the year, the analyst tells investors in a research note.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PLUG:
- Plug Power price target lowered to $2 from $2.25 at Canaccord
- Disney reports Q4 beat, Capri-Tapestry call off deal: Morning Buzz
- Plug Power price target lowered to $3 from $4 at Craig-Hallum
- Plug Power price target lowered to $2 from $3 at Wells Fargo
- Will Plug Power Stock Rebound to $5? Here’s What BTIG Expects