Citigroup Downgrades Plug Power to Neutral, Lowers Price Target to $5
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Vikram Bagri has downgraded Plug Power (NASDAQ:PLUG) from Buy to Neutral and reduced the price target from $12.5 to $5.

November 16, 2023 | 11:17 am
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NEGATIVE IMPACT
Citigroup downgraded Plug Power from Buy to Neutral and significantly lowered the price target from $12.5 to $5.
Analyst downgrades typically lead to a negative perception among investors, potentially causing a short-term decline in the stock price. The substantial reduction in the price target from $12.5 to $5 suggests a bearish view on the company's valuation and future performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100