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Plug Power bounces as analysts affirm ratings, see Amazon deal paying off

Published 05/10/2017, 02:59 PM
© Reuters.  Plug Power bounces as analysts affirm ratings, see Amazon deal paying off
  • Plug Power (PLUG +2.9%) recovers a bit of lost ground from yesterday's 7.5% plunge following a larger than expected Q1 loss and disappointing revenues, as some analysts bet that the fuel cell maker's future remains bright amid growing pains.
  • FBR Capital reiterates its Outperform rating, saying Wal-mart negotiations caused a weak Q1 "but that doesn't change the story," as it expects additional multi-site orders primarily from existing customers such as Wal-mart, Carrefour (PA:CARR), Kroger (NYSE:KR), Daimler, and Procter & Gamble.
  • Rodman & Renshaw affirmed its Buy rating, saying it was "a little surprised" that guidance was not raised post the Amazon (NASDAQ:AMZN) partnership, as PLUG continues to expect $70M in sales to Amazon in 2017; the firm believes management is being conservative with its outlook.
  • Now read: CUI Global, Inc. 2017 Q1 - Results - Earnings Call Slides


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