![]() ![]() Moreover, Morgan Stanley analyst Andrew Percoco issued a downgrade of Plug Power from “overweight” to “equal weight.” Percoco also drastically reduced his price target on Plug Power shares, from $35 to $15.Going forward, Kashy expects investors to focus on “demand, access to capital, supply-chains, and the Inflation Reduction Act.” Piper Sandler analyst Kashy Harrison kept his “neutral” rating on Plug Power but also slashed his price target the shares from $17 to $12.KeyBanc analysts downgraded Plug Power from “overweight” to “sector weight.” Concerned that the company faces a “series of headwinds” in the near term, KeyBanc analysts claim that Plug Power’s “need for external capital creates an overhang in the current environment.”.Reportedly, UBS analysts warn that Plug Power “remains a ‘show me’ story.” In addition, the analysts feel that Plug Power “must prove to the market that it can hit its revenue growth targets and drive inflection in gross margins.” Even though UBS analyst Manav Gupta maintained his “buy” rating on Plug Power shares, he reduced his price target from $26 to $24.Per The Fly, here’s a rundown of some not-so-optimistic expert opinions on Plug Power: Judging by some analysts’ recent downgrades and/or price target cuts, it appears that I’m not the only person who’s doubtful of Plug Power’s near-term prospects. ![]() I’m skeptical of Plug Power’s robust projections, and I have difficulty believing that PLUG stock will reach $25.10 in the next 12 months. Whether Plug Power actually achieves any of them remains to be seen. These are ambitious predictions, to say the least. How optimistic? Plug Power is targeting annual sales of $5 billion and 30% gross margin for 2026, followed by annual sales of $20 billion and 35% gross margin for 2030. On the other hand, Plug Power is highly optimistic about the company’s future prospects. ![]() This may seem hard to justify, as Plug Power has a track record of quarterly EPS misses and a rapidly dwindling position of cash and cash equivalents. Thus, if the current Plug Power share price is around $9, then evidently analysts are bracing for a 179% rally. Reportedly, based on the forecasts of 22 analysts on Wall Street, the consensus price target for PLUG stock is $25.10. Wall Street’s Surprisingly High Price Target for PLUG Stock ![]()
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