HSBC analyst Samantha Hoh expressed optimism about the outlook for the U.S. clean technology sector, citing an improving macro environment marked by declining interest rates.
Plug Power Inc.(PLUG) received a vote of confidence from HSBC analyst Samantha Hoh on Thursday, who lifted her price target on the stock from $2.50 to $4.60.
Despite ongoing challenges in the clean energy space, Hoh continues to rate the hydrogen fuel cell company as a “Buy”, according to TheFly.
Hoh expressed optimism about the outlook for the U.S. clean technology sector, citing an improving macro environment marked by declining interest rates, more grounded growth forecasts, and a shift toward practical government policies.
Plug Power stock traded over 7% lower in Thursday’s premarket. On Wednesday, the company announced a warrant inducement deal with a single institutional investor. The move is expected to generate approximately $370 million before fees and costs.
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