This Plug Power Analyst Expects Break-Even Margins By This Year End: Here's Why
Portfolio Pulse from Lekha Gupta
Northland Capital Markets analyst Abhishek Sinha upgraded Plug Power Inc (NASDAQ:PLUG) to Outperform from Market Perform and revised up the price target to $22. Sinha expects the company to achieve a break-even margin by the end of the year and generate cash flow next year. The company recently secured a new electrolyzer deal in Europe, which is expected to boost margins and revenues. PLUG shares are trading higher by 1.62% at $12.16.
July 14, 2023 | 5:38 pm
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Plug Power Inc's stock has been upgraded to Outperform by Northland Capital Markets analyst, with a revised price target of $22. The company is expected to achieve break-even margins by year-end and generate cash flow next year.
The upgrade by Northland Capital Markets analyst and the revised price target to $22 indicates a positive outlook for the company. The expectation of achieving break-even margins by year-end and generating cash flow next year is a strong indicator of the company's financial health, which is likely to positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100