Plug Power Pops on Morgan Stanley Upgrade By

© Reuters.

By Christiana Sciaudone —  Plug Power (NASDAQ:) jumped 12% after Morgan Stanley (NYSE:) upgraded the stock.

Analyst Stephen Byrd bumped the stock to equalweight from overweight with a price target of $14 following the company’s investor day.

Byrd sees several areas of upside, including “fuel cell vehicle sales to Linde (NYSE:), Apex partnership to secure cheap US renewable power, several avenues of growth in Europe, and strong progress in electrolyzer technology.” 

Shares have more than quadrupled this year on high expectations for alternative energies and currently trade around $13.05. The stock has eight buy ratings and two holds.


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