Citigroup Downgrades Plug Power to Sell, Lowers Price Target to $2
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Vikram Bagri downgraded Plug Power (NASDAQ:PLUG) from Neutral to Sell and reduced the price target from $3.25 to $2, indicating a bearish outlook on the stock.
April 05, 2024 | 3:19 pm
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Citigroup downgraded Plug Power to Sell and lowered the price target to $2, suggesting a negative short-term outlook for the stock.
The downgrade from Neutral to Sell by a major financial institution like Citigroup, accompanied by a significant reduction in the price target, typically indicates a strong bearish sentiment towards the stock. This can lead to a decrease in investor confidence and potentially result in a short-term decline in the stock's price.
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