Plug Power stock popped more than 11%

Tiger Newspress2021-10-13

Plug Power stock popped more than 11% in morning trading,heads toward 7th straight gain.Morgan Stanley upgraded Plug Power, said hydrogen stock could jump more than 30%.

Hydrogen fuel company Plug Power is set to gain ground as the U.S. transition to clean energy sources ramps up, according to Morgan Stanley.

Analyst Stephen Byrd upgraded Plug Power to overweight from equal weight, saying Wednesday in a note to clients that hydrogen power was poised to be an important part of the shift to clean energy.

Morgan Stanley raised its price target on Plug Power by $5 per share to $40 per share, which is 34% above where the stock closed Tuesday.

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