HSBC lowered the firm’s price target on Plug Power to $8.50 from $9 and keeps a Buy rating on the shares. The company reported an “encouraging” Q4 when excluding non-cash charges, the analyst tells investors in a research note. The firm dropped the price target to reflect a higher share count. HSBC believes Plug could be at an inflection point with balance sheet concerns alleviated by a loan and ramping hydrogen production driving profitability.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on PLUG:
- Plug Power Advances Growth with Strategic Cash Management
- PLUG Earnings: Plug Power Fizzles after Shaky Earnings Results
- Plug Power Inc Reported Earnings. Did it Beat Estimates?
- Plug Power Issues Key Financial Information Update
- Plug Highlights Year of Strategic Growth and Advancements in Accelerating the Green Hydrogen Economy
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue