Motley Fool
Why Plug Stock Popped Today
This morning, analysts at investment megabank Citigroup cut their price target on the fuel cell leader, but instead of falling, Plug Power stock popped 2.7% (as of 10:20 a.m. ET). Arguing that Plug Power is actually a chemicals company rather than a renewable energy company, Citi observes in its note today that chemicals stocks rallied in 2021 (as TheFly.com reports). On the one hand, this has Citi worried enough to cut its price target on Plug by 34%, to $37 per share.