UPDATE: Morgan Stanley Resumes Plug Power (PLUG) at Equalweight
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Morgan Stanley analyst Stephen Byrd resumes coverage on Plug Power (NASDAQ: PLUG) with a Equal-weight rating and a price target of $35.00.
The analyst commented, "PLUG's product advantages, strong balance sheet, and strategic partnerships position the company well for the transition to a hydrogen economy. Even after forecasting double-digit revenue growth and strong margin expansion, we see modest stock price upside - driving our resumption at Equal-weight."
Shares of Plug Power closed at $32.30 yesterday.
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