Plug Power price target lowered to $25 from $28 at Susquehanna

Susquehanna analyst Biju Perincheril lowered the firm’s price target on Plug Power to $25 from $28 and keeps a Positive rating on the shares. The analyst noted Management guided down 4Q revenue guidance mostly due to difficulties ramping production of new products as well as delays to customer construction. Susquehanna said given its strong balance sheet and ability to utilize back leverage on its existing plants, the company likely won’t require additional capital over the medium-term.