Plug Power (PLUG) PT Lowered to $1.90 at Jefferies

Jefferies analyst Dushyant Ailani lowered the price target on Plug Power (NASDAQ: PLUG) to $1.90 (from $2.00) while maintaining a Hold rating.

The analyst comments "We attended Plug's annual symposium and came out cautiously optimistic as the co level set expectations for '25 ($850-$950mn rev) and set LT targets which we still see as a show me story. While mgmt was constructive on the US macro/policy outlook (DoE/45V/ITC), we remain more cautious given unclear messaging from the incoming administration. We don't expect much weight to be given to Plug's LT targets, with focus being on '25."

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