Plug Power price target raised to $2.50 from $1.25 at Canaccord

Canaccord raised the firm’s price target on Plug Power (PLUG) to $2.50 from $1.25 and keeps a Hold rating on the shares. The firm noted its mixed Q3 results and said over the several months, management has scurried to reshore its balance sheet, raise prices and optimize the cost structure in an effort to adapt to changing conditions and build a sustainable, vertically integrated leader in hydrogen.