Morgan Stanley Maintains Underweight on Plug Power, Lowers Price Target to $2.5
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Arthur Sitbon has maintained an Underweight rating on Plug Power (PLUG) and reduced the price target from $3 to $2.5. This adjustment reflects a bearish outlook on the stock's future performance.
May 10, 2024 | 3:45 pm
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Morgan Stanley's revision of Plug Power's price target to $2.5 from $3, while maintaining an Underweight rating, indicates a negative outlook on the stock's short-term price movement.
Analyst ratings and price target adjustments are significant indicators of a stock's future performance. A reduction in the price target, especially with an Underweight rating, typically leads to negative investor sentiment and could result in a decrease in the stock price in the short term.
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