UPDATE: Susquehanna Starts Plug Power (PLUG) at Positive
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Susquehanna analyst Biju Perincheril initiates coverage on Plug Power (NASDAQ: PLUG) with a Positive rating and a price target of $26.00.
The analyst comments "Our Positive rating largely reflects Plug’s top-line growth potential as the green hydrogen ecosystem develops over the next several years, allowing for the stock’s relatively rich valuation (2025 EV/Sales multiple of ~5.6x). Although we have a relatively cautious view of the hydrogen market (Link), we think Plug’s ability to provide integrated end-to-end green hydrogen solutions (from electrolyzers to hydrogen fuel, to fuel cells) will put it in a favorable position to generate double-digit annual top-line growth over the next decade."
Shares of Plug Power closed at $19.73 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesSusquehanna International Group of Companies
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