Why Plug Power Stock Was 5% Higher This Morning
For a second day in a row, shares of Plug Power (NASDAQ: PLUG) are running higher. The stock added 5.5% in early trading Thursday and was still up 3.7% at 1:40 p.m. EST, after tacking on 15% yesterday.
As pointed out yesterday, Plug's third-quarter sales (80% higher than in the year-ago period) sparked a chorus of cheers on Wall Street, with no fewer than five separate analysts raising their price targets on the stock, to anywhere from $22 all the way up to $30 a share.
Today, the chorus got even louder when Canaccord Genuity Group joined in, reiterating a buy rating on Plug stock and assigning it a $25 price target, nearly twice the analyst's previous $13 target.
Source Fool.com
