Plug Power (PLUG) PT Raised to $4 at Cowen

Cowen analyst Jeffrey Osborne raised the price target on Plug Power (NASDAQ: PLUG) to $4.00 (from $3.00) while maintaining an Outperform rating following the the Plug Power Symposium.

The analyst commented, "We came away from the Plug Power Symposium more confident in the continued ramp in material handling and the company's positioning for commercial vehicle applications. We are slightly discounting the $1 billion 2024 outlook to account for some remaining execution risk, but maintain our Outperform rating and raise our PT to $4 on the better visibility into the growth trajectory and model leverage."

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