The market did not seem very pleased with Plug Power’s (PLUG) latest business update. Shares took the down escalator after the company reiterated its 2022 revenue guidance of $900-925 million. While investors might have been showing their disappointment the company did not boost its forecast, Oppenheimer’s Colin Rusch sees plenty to back the bull case. “We believe PLUG's strategic update clearly signals the company's maturation,” the 5-star analyst said. “With a balance sheet that still boasts ~$4.5B in cash, a talented management team, a material advantage in hands-on experience, and leading technology, we believe PLUG is executing capably against a large opportunity.
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Plug Power (NASDAQ:PLUG)
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