Morgan Stanley Downgrades Plug Power to Underweight, Lowers Price Target to $3
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Arthur Sitbon has downgraded Plug Power (NASDAQ:PLUG) from Equal-Weight to Underweight and reduced the price target from $3.5 to $3, indicating a bearish outlook on the stock.
December 06, 2023 | 10:29 am
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NEGATIVE IMPACT
Morgan Stanley's downgrade of Plug Power to Underweight and a reduced price target suggests a negative outlook, which could lead to a short-term decline in PLUG's stock price.
Analyst downgrades typically influence market perception and can lead to immediate stock price adjustments. The reduction in price target further emphasizes the analyst's lack of confidence in the stock's performance, potentially leading to bearish investor sentiment in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100