Susquehanna downgrades Plug Power to Neutral, halves price target to $4.50

As previously reported, Susquehanna downgraded Plug Power to Neutral from Positive with a price target of $4.50, down from $9. While calling the rating changes “late,” the analyst says the downgrade reflects a preference for new capital. Overall, the residential segment is likely to see recent headwinds continue into at least the first half of this year before demand gets better heading into 2025, the analyst tells investors in an update on the Alternative Energy sector.