Stock analysts persistently lower ratings for Plug Power
In a recent development, analysts from both Wells Fargo and UBS have lowered their power targets for Plug Power, a leading provider of hydrogen fuel cell solutions.
Last Thursday, Plug Power's stock surged nearly five percent at the American exchange, but this positive momentum was short-lived. Analyst Michael Blum from Wells Fargo adjusted his forecasts for Plug Power's coming years, lowering his power target from four to three US dollars. This move was followed by Swiss banking giant UBS, which adjusted its power target from 2.75 to 2.50 US dollars.
These adjustments mark the second reduction in a relatively short period of time for UBS's power target for Plug Power. The chart of Plug Power's company appears disastrous to investors, with all key figures for Plug Power being below consensus and Wells Fargo's estimates, including revenue, gross margin, and EPS.
Wells Fargo also lowered its Ebitda estimates for 2024 and 2025 for Plug Power. The confidence of the experts seems to be finally gone for Plug Power, and there is a high risk associated with investing in the company.
Interested parties should keep their distance from an investment in Plug Power due to the high risk. There are no available search results indicating which other analysts have recently lowered their power targets for Plug Power or when.
However, there was a plus for Plug Power's stock on Friday. No new information about any other stocks or companies was mentioned in the current paragraph.
Despite the recent setbacks, it is important to note that a truly sustainable recovery in the stock price of Plug Power is yet to occur. It remains to be seen how the company will navigate these challenging times and whether it can regain the trust of investors.
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