Plug Power price target raised to $4.40 from $2.50 at HSBC

HSBC raised the firm’s price target on Plug Power (PLUG) to $4.40 from $2.50 and keeps a Buy rating on the shares. The analyst is optimistic that a new cycle has begun for the U.S. clean tech sector, “one that is well timed with falling interest rates, more realistic growth assumptions, rational government policies, and less reliance on government incentives.” This could bring a “healthy upcycle” for the sector, barring headline risk from Washington, the analyst tells investors in a research note.