In recent trading, shares of Plug Power Inc (PLUG) have crossed above the average analyst 12-month target price of $2.92, changing hands for $2.97/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the company, perhaps it is time for that target price to be raised.
|Recent PLUG Analyst Ratings Breakdown|
|Current||1 Month Ago||2 Month Ago||3 Month Ago|
|Strong buy ratings:||4||4||4||4|
|Strong sell ratings:||1||1||1||1|
The average rating presented in the last row of the above table above is from 1 to 5 where 1 is Strong Buy and 5 is Strong Sell. This article used data provided by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on PLUG — FREE.