Plug Power Shares Surge on Analyst Confidence

Shares of Plug Power Inc. advanced sharply on Friday, closing with a gain of approximately 14.5%. The rally was primarily driven by a significant upgrade from the research team at Clear Street, who shifted their stance to “Strong Buy” from a previous “Hold” rating.

While upgrading the stock, Clear Street analysts simultaneously adjusted their price target downward to $3.00 from $3.50. They cited recent capital-raising activities that have led to a degree of share dilution. Despite this reduction, the new target still implies a potential upside of more than 50% from current trading levels.

The firm’s optimistic view is rooted in Plug Power’s ongoing operational overhaul, known as “Project Quantum Leap.” Read more...