Canaccord Genuity Maintains a Buy Rating on Plug Power

In a report released yesterday, Chip Moore from Canaccord Genuity maintained a Buy rating on Plug Power (NASDAQ: PLUG), with a price target of $5. The company’s shares opened today at $2.02.

According to TipRanks.com, Moore is a 3-star analyst with an average return of 7.8% and a 65.2% success rate. Moore covers the Consumer Goods sector, focusing on stocks such as Renewable Energy Group, SolarEdge Technologies, and Darling Ingredients.

Currently, the analyst consensus on Plug Power is Strong Buy and the average price target is $4.17, representing a 106.4% upside.

In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $4 price target.

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The company has a one-year high of $3.21 and a one-year low of $1.53. Currently, Plug Power has an average volume of 3.75M.

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Plug Power, Inc. provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets.