Piper Sandler analyst Kashy Harrison lowered the firm’s price target on Plug Power to $12 from $17 and keeps a Neutral rating on the shares. Entering the Q1 earnings for the renewable and alternative energy sector, the analyst believes investors will be focused on demand, access to capital, supply-chains, and the Inflation Reduction Act. The firm expects continued backlog expansion for companies levered toward U.S. utility-scale development, U.S. residential solar levered companies to indicate that Q1 origination demand was better than previously feared, and that the European growth story "remains extremely attractive."
Published first on TheFly
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