Plug Power Stock Has 55% Upside, According to 1 Wall Street Analyst
Plug Power's (NASDAQ: PLUG) liquidity issues came to the forefront last November when the company issued a going concern warning, saying its cash balance and equity securities wouldn't be enough to run operations for the next 12 months. Fast forward to its latest earnings release on March 1, and Plug Power said it has "resolved the going concern issue."
That's a major development, but it doesn't mean Plug Power is out of the woods yet. At the same time, most analysts remain bullish on the hydrogen stock. Analyst James West from Evercore ISI cut down Plug Power's stock price target to $6 a share from $9 per share but maintained an outperform rating. West's fresh price target still represents nearly 55% upside in Plug Power from Monday's closing price.
Source Fool.com
