GM-Backed Cruise Said To Be In Talks To Acquire Voyage

Baird analyst Ben Kallo initiated coverage of QuantumScape (QS) with a Neutral rating and $52 price target, which reflects his discounted free cash flow mode. The analyst acknowledged that the experienced management team, strong balance sheet, and large TAM leaves him optimistic. However, Kallo is looking for more positive proof points before becoming more constructive.

ANALYSTS DIVERGE ON PLUG

JPMorgan analyst Paul Coster upgraded Plug Power (PLUG) on Monday 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 told 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, he added.

On Tuesday, Barclays analyst Moses Sutton downgraded Plug Power to Underweight from Equal Weight with a price target of $29, up from $21. The analyst sees a "disconnect" between fundamentals and the stock's valuation. There's value in Plug Power's green hydrogen strategy, but the company is now "shouldering the brunt" of the technology cost curve risk, Sutton told investors in a research note.

That same day, Plug said it was delaying filing its 10-K annual report due to shortened deadline. The company stated that, "For the year ended December 31, 2020, Plug Power became a large accelerated filer for the first time and, as a result, the company has a shortened filing deadline of 60 days rather than 75 days to file its Annual Report on Form 10-K for the year ended December 31, 2020. The company requires additional time to complete the procedures relating to its year-end reporting process, including the completion of the company's financial statements and procedures relating to management's assessment of the effectiveness of internal controls, and the company is therefore unable to file the Form 10-K by March 1, 2021, the prescribed filing due date."

U.S. GREEN ENERGY TRANSITION

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William K. 2 months ago Member's comment

Battery electric vehicles will still demand capabilities that the present grid and generating systems do not yet have, So there will be a few problems.