Plug Power's Outlook Dims, Analyst Downgrades Stock On Hydrogen Policy Risks And Limited Capacity Growth
1. Seaport Global downgraded PLUG to Sell with a $1 price target. 2. Analyst cited low post-FID activity and pipeline issues in hydrogen sector. 3. Negative news from U.S. and EU could impact PLUG's 2024 revenue. 4. PLUG's North American hydrogen capacity won't increase until Texas in 2026. 5. Company aims to end HYVIA joint venture and focuses on core applications.