Plug Power shares are trading higher after Roth MKM upgraded the stock from Neutral to Buy and raised its price target from $4.5 to $9.
Portfolio Pulse from Benzinga Newsdesk
Plug Power's stock (PLUG) is trading higher following an upgrade from Roth MKM, changing its rating from Neutral to Buy and increasing the price target from $4.5 to $9.
January 31, 2024 | 3:08 pm
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POSITIVE IMPACT
Plug Power's stock is likely to experience a positive short term impact due to Roth MKM's upgrade from Neutral to Buy and a raised price target from $4.5 to $9.
Analyst upgrades typically lead to a positive short term reaction in the stock market as they suggest a better-than-previously-expected future performance of the company. The doubling of the price target by Roth MKM indicates a strong conviction in the company's potential, which can instill investor confidence and drive up the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100