JP Morgan Downgrades Plug Power to Neutral, Lowers Price Target to $6
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Paul Coster has downgraded Plug Power (NASDAQ:PLUG) from Overweight to Neutral and reduced the price target from $10 to $6, indicating a more cautious outlook on the company's stock.
November 10, 2023 | 4:17 pm
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NEGATIVE IMPACT
Plug Power's stock may face downward pressure in the short term due to JP Morgan's downgrade from Overweight to Neutral and a lower price target of $6.
Analyst downgrades typically lead to a negative perception among investors, potentially causing a decrease in stock price. The reduction in price target from $10 to $6 by a major financial institution like JP Morgan suggests a significant adjustment in the expected performance of Plug Power's stock.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100