Citigroup Analyst Lists 4 Reasons to Sell Plug Power Stock
Saturday, 27 April 2024, 15:12
Citigroup Analyst Lists 4 Reasons to Sell Plug Power Stock
Learn why Citigroup's Vikram Bagri believes Plug Power stock is a clear sell right now. Analysts can't seem to agree on Plug Power (NASDAQ: PLUG) stock. According to data compiled by FactSet, some analysts believe shares are worth $18 apiece, while others believe they're worth as little as $2. One of the biggest bears right now is Citigroup's Vikram Bagri, the analyst with a $2 price target.
4 reasons Bagri isn't a fan of Plug Power stock
- Bagri downgraded Plug Power stock from 'neutral' to 'sell,' lowering his price target to $2.00 per share.
- Bagri highlighted limited corporate liquidity, dilution through ongoing ATM issuances, elusive profitability, and increasing competition as reasons for the downgrade.
- Corporate liquidity stands out as a near-term obstacle, with past concerns about bankruptcy and cash flow.
- Bagri doubts the sustainability of price increases in the competitive market and questions Plug Power's path to profitability.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.