Why Plug Power Stock Popped 6% This Morning
Shares of fuel cell pioneer Plug Power (NASDAQ: PLUG), which sank yesterday despite a series of arguably positive news releases, are rebounding in Friday trading, rising more than 6% earlier in the day and still up 3.8% as of 11:50 a.m. EDT. If you own Plug stock, there are at least a couple Wall Street of analysts you can thank for that. The British banker raised its price target from $12 to $13 a share this morning, reports TheFly.com, which predicts that if the hydrogen economy takes off, Plug shares could trade at a premium, in part because of the role it's taking in producing hydrogen for use in fuel cells.
