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.
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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
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