Plug Power downgraded to Hold from Buy at Clear Street

Clear Street downgraded Plug Power (PLUG) to Hold from Buy with a $3.50 price target after the company announced new CEO Jose Luis Crespo will succeed Andy Marsh in the role in March of next year. The current valuation reflects insufficient remaining upside following the strong outperformance of the stock, which is up 170% over the past four weeks, the analyst says.