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J.P. Morgan analyst Bill Peterson reiterated a Neutral rating on Plug Power, Inc. (NASDAQ:PLUG).
On Tuesday, the company reported revenue of $191.5 million, missing analyst estimates of $263.2 million, and customer warrant charges that stood at $22.7 million, based on updated forecasts and the timing of customer programs.
The analyst writes that Plug Power could witness moderate growth in 2025 with an increase in material handling demand (+10% to 20% Y/Y) and electrolyzer deployments from its existing backlog (+60% Y/Y).
Also, margin improvements should stay consistent, supported by the company’s cost-cutting initiatives, higher equipment volumes, and additional hydrogen …
