Plug Power Stock Surges on Price Target Upgrade and Optimism Ahead of Earnings
• Plug Power stock surged 13.7% Thursday morning after analyst Jordan Levy upgraded its price target by 33% to $4 per share • The upgrade came just ahead of Plug Power's Q4 earnings report on March 1st • Plug Power issued a going concern warning last quarter stating its cash balance won't last 12 months • The company is close to finalizing a $1.6 billion Dept. of Energy loan to help fund operations • CEO Andy Marsh said he's confident Plug Power will be much stronger by end of year, sparking investor optimism