June 20, 2021
Business News

JPMorgan Says Hydrogen Stock Plug Power Trades At ‘Steep Price,’ Downgrades FuelCell Energy

Hydrogen power company Plug Power Inc (NASDAQ: PLUG) is both a first mover and fast mover in the hydrogen fuel cell space, but the stock trades a “steep price,” according to JPMorgan.

The Plug Power Analyst: Paul Coster initiated coverage of Plug Power with a Neutral rating and $60 price target.

The Plug Power Thesis: Plug Power has been an early player in the $200-billion electrification of the transportation and logistics market, Coster said in a Thursday initiation note.

The company is able…

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