BMO Capital Downgrades Plug Power to Underperform, Lowers Price Target to $2.5
Portfolio Pulse from Benzinga Newsdesk
BMO Capital analyst Ameet Thakkar has downgraded Plug Power (NASDAQ:PLUG) from Market Perform to Underperform and reduced the price target from $3.5 to $2.5, indicating a bearish outlook on the company's stock.
January 24, 2024 | 11:06 am
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Plug Power's stock may face downward pressure after BMO Capital's downgrade to Underperform and a price target cut to $2.5, suggesting a lack of confidence in the stock's near-term performance.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they reflect a professional assessment of the stock's potential to underperform the market. The reduction in the price target further emphasizes the analyst's bearish stance, which may influence investor sentiment and lead to a decrease in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100