Piper Sandler lowered the firm’s price target on Plug Power (PLUG) to 80c from $1.10 and keeps an Underweight rating on the shares. The firm highlights a relative improvement from Plug as revenues were in line with expectations for the first time since Q2 2023; margins were also in line. Cash burn remains high at $141M but did decline 47% year-over-year, Piper adds. Despite less severe cash burn than expected, the firm remains bearish as it struggles with the path to corporate profitability.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PLUG:
- Plug Power price target lowered to $1 from $1.15 at Susquehanna
- Plug Power price target lowered to $3.50 from $5 at Roth Capital
- Plug Power price target lowered to $1 from $1.25 at Canaccord
- Plug Power’s Strategic Growth and Margin Improvement Drive Buy Rating
- Plug Power Inc. Reports Q1 2025 Financial Growth