Plug Power Inc
PLUG: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$3.10 | Hjzkm | Tfly |
Plug Power: 2024 Focus Is on Reducing Cash Burn and Securing Financing
We've lowered our fair value estimate for no-moat Plug Power to $3.50 per share from $5 following the company's annual business update. The decreased valuation is driven by a lower revenue growth outlook, resulting in reduced operating leverage relative to our prior assumptions. We maintain our Extreme Uncertainty Rating as we continue to see a wide range of outcomes for the company, given constrained near-term liquidity. We view the shares as fairly valued.