Plug Power (PLUG) Receives $1.66B Conditional Commitment Loan Guarantee from DoE
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Plug Power (PLUG) surges on DoE loan guarantee
May 14, 2024 1:30 PM EDTPlug Power (NASDAQ: PLUG) stock surged Tuesday on news that it has received a conditional commitment for an up to $1.66 billion loan guarantee from the Department of Energy's (DOE) Loan Programs Office.
The loan guarantee is to finance the development, construction, and ownership of up to six green hydrogen production facilities.
"We appreciate the partnership with the DOE Loan Programs Office and are pleased to have worked through... More
BMO Capital Reiterates Underperform Rating on Plug Power (PLUG)
May 14, 2024 9:49 AM EDTBMO Capital analyst Ameet Thakkar reiterated an Underperform rating and $2.50 price target on Plug Power (NASDAQ: PLUG).
The analyst comments "Plug Power announced earlier receipt of conditional commitment from DOE's Loan Programs Office for an up to $1.66 billion loan guarantee. Timing to... More
RBC Capital Comments on Plug Power (PLUG) DOE Conditional Commitment Loan
May 14, 2024 9:01 AM EDTRBC Capital analyst Chris Dendrinos reiterated a Sector Perform rating and $3.50 price target on Plug Power (NASDAQ: PLUG).
The analyst comments "The receipt of a conditional commitment marks a big step forward in the loan approval process. The term sheet outlines key financial and commercial terms and conditions that must be satisfied prior to the issuance and funding, which PLUG is now working through. The next hurdle is the NEPA permitting process which PLUG is going through for its... More
