Piper Sandler Downgrades Plug Power to Underweight, Lowers Price Target to $2.3
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Kashy Harrison downgraded Plug Power (NASDAQ:PLUG) from Neutral to Underweight and reduced the price target from $6.5 to $2.3.
December 19, 2023 | 12:15 pm
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NEGATIVE IMPACT
Piper Sandler downgraded Plug Power from Neutral to Underweight and significantly lowered the price target from $6.5 to $2.3.
The downgrade by a prominent analyst to Underweight suggests a bearish outlook on the stock, which could lead to a decrease in investor confidence and a potential drop in the stock price in the short term. The significant reduction in the price target further emphasizes the analyst's negative sentiment towards the company's valuation.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100