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Plug Power price target lowered to $1 from $2 at Wells Fargo

Wells Fargo lowered the firm’s price target on Plug Power (PLUG) to $1 from $2 and keeps an Equal Weight rating on the shares. The firm cites higher-than-forecasted share dilution from Plug Power’s recent equity offering. Initial draft proposal from Ways & Means eliminates 45V tax credit starting in 2026, Wells notes.

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