Why Plug Power Shares Soared 11.8% on Wednesday
Shares of fuel cell company Plug Power (NASDAQ: PLUG) jumped as much as 11.8% in early trading Wednesday after getting a big analyst upgrade. Shares were bouncing near new highs at 11:20 a.m. today and may still move higher from here.
The surge in shares was driven by H.C. Wainwright raising its price target on the stock from $6 to $14 and calling the company a "clean energy juggernaut." This follows management increasing its 2024 revenue guidance from $1.0 billion to $1.2 billion after buying United Hydrogen and Giner ELX.
Image source: Getty Images.
Source Fool.com
