Jefferies views Plug Power receiving conditional commitment for up to a $1.66B loan from the Department of Energy as a “step in the right direction.” Plug “still has some hurdles to cross,” the analyst tells investors in a research note. The firm expects Texas to be the first project to be funded through this facility, with the next steps involving receiving National Environmental Policy Act permitting approval in 4-8 months. It keeps a Hold rating on the shares with a $3.50 price target.
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Read More on PLUG:
- Plug Power (NASDAQ:PLUG) Soars Following Conditional DoE Funding
- Plug Power Secures $1.66B DOE Loan for Green Hydrogen Expansion
- Plug Power price target lowered to $3 from $4 at Canaccord
- Plug Power or Sunrun: Top Analyst Colin Rusch Chooses the Superior Renewable Energy Stock to Buy
- Plug Power price target lowered to $2.50 from $2.90 at Piper Sandler
