Plug Power Drops After Broker Cut Wipes $1.75 Billion, 50-MW Order Not Enough
Plug Power Inc. dropped 5.5% to $2.25 late Friday morning after Susquehanna lowered its 12-month target price to $2.50 from $3.75. The cut took $1.25 off the target on about 1.40 billion shares, slicing around $1.75 billion from the broker’s implied equity value. That’s about 56% of Plug’s current $3.13 billion market cap. These are target numbers—not an actual market loss.