02:10 PM EDT, 05/15/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our target by $0.50 to $0.80, applying an EV/sales ratio of 2.2x to our 2025 sales view, with our applied multiple falling well below PLUG's three-year average (~4.6x) on worsening liquidity risks given the company's consistent losses, continued weak hydrogen demand, and an unfavorable U.S. regulatory landscape. We lift our 2025 sales outlook by $42M to $697M and increase our 2026 view by $165M to $845M to reflect growing demand/green hydrogen targets in Europe, which should offset regulatory risk in the U.S. to some degree despite the U.S. accounting for 91% of Q1 sales. Our upgrade also reflects an improved liquidity picture following recent funding initiatives (i.e., ~$550M committed from Yorkville Advisors in early May), which have brought significant equity dilution (outstanding shares up 45% Y/Y and 17% Q/Q) but where we expect the rate of dilution to slow down from here as cost cuts reduce cash burn. We adjust our 2025 LPS view to -$0.69 from -$1.10 and adjust 2026's to -$0.31 from -$0.37.