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Technology Stocks : Plug Power (PLUG)

PLUG 2.100

+2.4%

9:30 AM EST

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From: Glenn Petersen	9/28/2020 9:57:19 AM
	of 783

Plug Power Rises on Morgan Stanley Upgrade to Overweight Morgan Stanley says Plug Power is 'positioned to economically use green hydrogen.' ROB LENIHAN TheStreet.com September 29, 2020 Plug Power ( PLUG) - Get Report was advancing Monday after Morgan Stanley upgraded the green-energy company to overweight from equal weight with a price target of $14, up from $10.25. Shares of the Latham, New York-based company, which makes hydrogen fuel cell systems, were up 6.27% to $12.38. Morgan Stanley analyst Stephen Byrd said he upgraded Plug Power following the company's investor day symposium. The analyst said the event featured upside potential from several areas, including fuel cell vehicle sales to Linde, the Apex partnership to secure cheap U.S. renewable power, "several avenues of growth" in Europe, and Plug Powe's strong progress in electrolyzer technology. Byrd said he was bullish that green hydrogen will become economically viable more rapidly than investors appreciate, adding that Plug Power "is particularly well positioned to economically use green hydrogen in important products that serve very large addressable markets," and is making "important progress in addressing these markets through important customer and partner relationships." finance.yahoo.com

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