PLUG - Plug Power 'Plagued' But A Rival Hydrogen OEM Stock Shows Promise: Morgan Stanley | Benzinga
Shares of Plug Power Inc (NASDAQ: PLUG) were trending lower in early trading on Wednesday, after spiking around 28% last week.
Against the backdrop of high interest rates and rising renewable electricity prices, the green hydrogen market has become reliant on subsidies, where there is limited visibility, according to Morgan Stanley.
The Clean Hydrogen Analyst: Arthur Sitbon downgraded the rating for Plug Power from Equal-Weight to Underweight, while reducing the price target from $3.50 to $3.
In the same note, Sitbon reiterated an Overweight rating on Bloom Energy Corp (NYSE: