What's Going On With Plug Power Stock?
Portfolio Pulse from Henry Khederian
Plug Power Inc's (NASDAQ:PLUG) shares are trading lower by 3.29% after BMO Capital analyst Ameet Thakkar maintained a Market Perform rating and lowered the price target from $10.25 to $8. The company recently hosted an analyst day, highlighting achievements of its 15 ton per day (TPD) liquid green hydrogen plant in Georgia. Increased hydrogen production is expected to boost Plug's fuel margin from Q2 to Q4 2023.
August 24, 2023 | 4:45 pm
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Plug Power's stock price is down due to a lowered price target by BMO Capital. However, the company's increased hydrogen production could boost its fuel margin, potentially positively impacting the stock in the long term.
The immediate impact of the lowered price target by BMO Capital has led to a decrease in Plug Power's stock price. However, the company's focus on increasing hydrogen production, which is expected to boost its fuel margin from Q2 to Q4 2023, could have a positive impact on the stock in the long term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100