HSBC Lifts Plug Power Price Target Amid Clean Tech Optimism
Synopsis
HSBC analyst Samantha Hoh expressed optimism about the outlook for the U.S. clean technology sector, citing an improving macro environment marked by declining interest rates.
Plug Power Inc.(PLUG) received a vote of confidence from HSBC analyst Samantha Hoh on Thursday, who lifted her price target on the stock from $2.50 to $4.60.
Despite ongoing challenges in the clean energy space, Hoh continues to rate the hydrogen fuel cell company as a “Buy”, according to TheFly.
Hoh expressed optimism about the outlook for the U.S. clean technology sector, citing an improving macro environment marked by declining interest rates, more grounded growth forecasts, and a shift toward practical government policies.
Plug Power stock traded over 7% lower in Thursday’s premarket. On Wednesday, the company announced a warrant inducement deal with a single institutional investor. The move is expected to generate approximately $370 million before fees and costs.
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