Roth Capital analyst Craig Irwin lowered the firm’s price target on Plug Power (PLUG) to $3.50 from $5 and keeps a Buy rating on the shares after its Q1 earnings miss. The company still faces headwinds, but the management is making substantial progress reducing cash needs, and the range of $360M-$500M in 2025 cash use vs. $1B in 2024 is still a reasonable expectation, the analyst tells investors in a research note.
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