JPMorgan Upgrades Plug Power On 'Many Long-Term Growth Opportunities'

Source: Unsplash 

JPMorgan analyst Paul Coster upgraded Plug Power (PLUG) to Overweight from Neutral with an unchanged price target of $65.

In the context of the company's "many long-term growth opportunities," the stock is attractively priced at current levels ahead of potential positive catalysts, Coster tells investors in a research note.

These include additional "pedestal" customer wins, partnerships, and joint ventures that enable Plug Power to enter new geographies and end-market applications quickly and with modest capital commitment, says the analyst.