Roth Capital Upgrades Plug Power (PLUG) to Neutral

Roth Capital analyst Craig Irwin upgraded Plug Power (NASDAQ: PLUG) from Sell to Neutral with a price target of $1.30.

The analyst cites the valuation as the primary driver of the upgrade.

He also comments "Both the WMT (WMT-NC) and Amazon (AMZN-NC) warrant agreements have raised revenue visibility, but these agreements erode both the quality of revenue/margin/earnings. We expect 2019 to be the year of the lithium ion electric lift truck, and suspect WMT could issue weak orders to PLUG as it starts taking material lithium battery volumes. We remain skeptical about the company's 2H19 timeline for suggested EBITDA profitability."

For an analyst ratings summary and ratings history on Plug Power click here. For more ratings news on Plug Power click here.

Shares of Plug Power closed at $1.40 yesterday.

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