Susquehanna analyst Biju Perincheril lowered the firm’s price target on Plug Power to $14 from $15 and keeps a Positive rating on the shares. The firm said 2Q’23 results were negatively impacted by weak gross margins, which caused EPS to fall below expectations and while management reaffirmed its FY’23 revenue guidance, it seems unlikely the company will achieve positive gross margins for the year.
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