Nov.03 -- Democratic nominee Joe Biden spent Election Day traveling around Pennsylvania before finishing in his home state of Delaware where he is awaiting the results. Bloomberg's Emily Wilkins reports on "Bloomberg Technology."
Nov.03 -- Democratic nominee Joe Biden spent Election Day traveling around Pennsylvania before finishing in his home state of Delaware where he is awaiting the results. Bloomberg's Emily Wilkins reports on "Bloomberg Technology."
Billionaire hedge fund manager William Ackman, who cautiously hedged his portfolio before the historic market sell-off in March, has extended his gains to 62.8% for the year so far. Last month, Ackman's publicly traded Pershing Square Holdings portfolio gained 13.4%, lifting the $11.4 billion portfolio to a net gain of 62.8% in the first 11 months of 2020, according to a performance review. Ackman recently told investors that the firm is having its best ever year and that he is "bullish" for 2021.
Investors are crowding into the stock market right now, and they aren't seeing the big signals that indicate they are about to get caught up in a rough period of selling, says our call of the day from contrarian investor Steven Jon Kaplan.
Shares of Workhorse Group (NASDAQ: WKHS) are down in after-hours trading Tuesday on news of a delay for the long-awaited U.S. Postal Service contract.What Happened: The USPS is delaying its contract decision on the USPS replacement vehicles, according to Trucks.com.The USPS told Trucks it expects to make a decision in the second fiscal quarter of 2021. This decision has been delayed multiple times already and now puts pressure on Workhorse, one of three finalists for the contact."Amid continuing Covid-19 concerns, and in order to provide for capital investment activities and required approvals, the program schedule has been revised and a decision is now planned for quarter 2 of fiscal year 2021," the USPS said in a statement.Related Link: Workhorse CFO Steve Schrader On The Status Of The USPS ContractWhy It's Important: The USPS is set to award a $6 billion contract for 180,000 delivery vehicles. Workhorse Group is one of the finalists along with Turkey-based Krsan and Oshkosh Corporation (NYSE: OSK).Shares of Workhorse are up over 700% in 2020 and investors could sell the delay news.WKHS Price Action: Shares of Workhorse fell 14% to $21.75 in after-hours trading.See more from Benzinga * Click here for options trades from Benzinga * Why Barstool, MGM Could Be Big Winners With Michigan Online Sports Betting * Musk Wants Tesla Employees To Pinch Pennies For Profitability(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The Dow Jones gave up gains late after Senate Majority Leader Mitch McConnell shot down a proposed coronavirus stimulus plan.
Dividend stocks are the Swiss army knives of the stock market.When dividend stocks go up, you make money. When they don’t go up — you still make money (from the dividend). Heck, even when a dividend stock goes down in price, it’s not all bad news, because the dividend yield (the absolute dividend amount, divided by the stock price) gets richer the more the stock falls in price.Knowing all this, wouldn’t you like to find great dividend stocks? Of course you would. Raymond James analysts have chimed in – and they are recommending two high-yield dividend stocks for investors looking to find protection for their portfolio. These are stocks with a specific set of clear attributes: a dividend yield of 10% and Strong Buy ratings.Kimbell Royalty Partners (KRP)We’ll start with Kimbell Royalty Partners, a land investment company operating in some of the US’ major oil and gas producing regions: the Bakken of North Dakota, Pennsylvania’s Appalachian region, the Colorado Rockies, and several formations in Texas. Kimbell owns mineral rights in more than 13 million acres across these regions, and collects royalties from over 95,000 active wells. Over 40,000 of those wells are in the Permian Basin of Texas, the famous oil formation that has, in the past decade, helped turn the US from a net importer of hydrocarbons to a net exporter.The coronavirus crisis hit Kimbell directly in the pocketbook, knocking down share prices and earnings as economic restrictions, social lockdowns, and the economic downturn all struck at production and demand. The situation has only begun to revive, with the Q3 revenues growing 44% sequentially to reach $24.3 million.Kimbell has long been a reliable dividend payer, with a twist. Where most dividend stocks keep their payouts stable, typically making just adjustment in a year, Kimbell has a history of reevaluating its dividend payment every quarter. The result is a dividend that is rarely predictable – but is always affordable for the company. The last declaration, for the third quarter, was 19 cents per common share, or up 46% from the previous quarter. At that rate, the dividend yields ~10%,Covering the stock for Raymond James, analyst John Freeman noted, “Despite a strong quarterly performance and a nearly 50% distribution raise in 3Q, the market continues to under appreciate the unique value proposition of Kimbell's assets, in our view. Kimbell has a best-in-class 13% base decline, exposure to every major basin and commodity, as well as a very manageable leverage profile…”Regarding the possible anti-hydrocarbon stance of a Biden Administration, Freeman sees little reason for worry, saying, “Investors concerned about a potential Biden presidency (which appears increasingly likely) have little to fear in KRP. The company has less than ~2% of acreage on federal lands, meaning a frac ban on those properties would not have a material impact on KRP's business and might actually help them if it improved the overall supply impact."In line with these comments, Freeman rates KRP a Strong Buy, and his $9 price target implies it has room for 25% growth going forward. (To watch Freeman’s track record, click here)Wall Street appears to agree with Freeman, and the analyst consensus view is also a Strong Buy, based on 5 unanimous positive reviews. This stock is priced at $7.21, and its $11 average target is even more bullish than Freemans, suggesting a one-year upside of ~52%. (See KRP stock analysis on TipRanks)NexPoint Real Estate Finance (NREF)NexPoint inhabits the real estate trust niche, investing in mortgage loans on rental units, both single- and multi-family occupancy, along with self-storage units and office spaces. The company operates in the US, across major metropolitan hubs.NexPoint held its IPO in February this year, just before the coronavirus pandemic inspired an economic crisis. The offering saw 5 million shares sell, and brought in some $95 million in capital. Since then, the shares are down 13%. Earnings, however, have posted gains in each full quarter that the company has reported as a public entity, coming in at 37 cents per share in Q2 and 52 cents in Q3. The Q3 number was 30% above the forecast.The dividend here is also solid. NexPoint started out with a 22-cent per share payment in Q1, and raised it in Q2 to its current level of 40 cents per common share. This annualizes to $1.60, making the yield an impressive ~10%.Stephan Laws, 5-star analyst with Raymond James, is impressed with what he sees here. Laws writes of NexPoint, “Recent investments should drive significant core earnings growth, which is reflected in the increased 4Q guidance range of $0.49-0.53 per share (up from $0.46-0.50 per share). The guidance incorporates the full quarter impact of the new 3Q investments as well as new mezz investments made in October. We are increasing our 4Q and 2021 estimates, and we have increased confidence in our forecast for a 1Q21 dividend increase, which we now forecast at $0.45 per share…”Following these sentiments, Laws puts a Strong Buy rating on NREF. His $18 price target suggest the stock has a 9% upside potential for the year ahead. (To watch Laws’ track record, click here)With 2 recent Buy reviews, the analyst consensus on NREF shares is a Moderate Buy. The stock’s $18 average price target matches Laws’, implying 9% growth. (See NREF stock analysis on TipRanks)To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
Airlines stocks have shown signs of a turnaround over the last month. Here are three to put on the radar.
Occidental Petroleum Corporation (NYSE: OXY) shares are up 68% in the last month, and the stock's big run triggered a Wall Street downgrade on Tuesday.The Analyst: UBS analyst Lloyd Byrne downgraded Occidental from Neutral to Sell and raised the price target from $10 to $12.Related Link: Why BofA Securities Is Overweight Energy Stocks In 2021The Thesis: In the downgrade note, Byrne said the company's debt concerns have been mitigated, but its recent rally has carried the stock too far too fast based on its valuation."We believe OXY is now discounting $53-55/bbl WTI going forward (significantly above the forward curve), and we see more compelling better risk/reward elsewhere in the group," the analyst said. Occidental investors should consider rotating to oil stocks with more compelling valuations, such as Canadian Natural Resources Ltd (NYSE: CNQ), ConocoPhillips (NASDAQ: COP) and EOG Resources Inc (NYSE: EOG), he said. Despite the recent bounce in oil prices, Byrne said he does not anticipate Occidental being under 3x leverage until 2025. Occidental's capital spending cuts have reduced the production outlook in 2021 and beyond, which UBS projects will weigh on long-term EBITDA and free cash flow.In the meantime, Byrne said he expects Occidental's Colombia divestiture to close as expected and said investors should expect additional asset sales in the near-term.These deals could serve as bullish catalysts for the stock depending on their valuation, the analyst said. For now, however, he said any incremental FCF that Occidental generates will go to debt reduction.Benzinga's Take: It's not often an analyst will downgrade a stock to Sell and simultaneously raise their price target by 20%. Yet Occidental has rallied from under $9 in late October to above $15 in just over a month's time.Latest Ratings for OXY DateFirmActionFromTo Dec 2020UBSDowngradesNeutralSell Nov 2020SusquehannaUpgradesNeutralPositive Nov 2020Morgan StanleyMaintainsEqual-Weight View More Analyst Ratings for OXY View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Bearish Ford Option Trader Bets .1M Stock Is Headed Lower Over The Next 2 Years * The Libra Cryptocurrency Rebrands As 'Diem'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Nio and Xpeng reported a jump in November sales, and Goldman Sachs hiking its price targets on Nio and Li Auto.
Think carefully about your choice so you can actually pay off your student debt.
What kind of stocks stir up controversy like no other? Penny stocks. These tickers trading for less than $5 per share have earned a reputation as some of the most divisive names on Wall Street, with these plays either met with open arms or given the cold shoulder.It’s understandable why some investors are wary. Those opposed are quick to point out that there could be a very real reason these stocks are changing hands for pocket change, with the low share prices often masking obstacles like weak fundamentals or troubling headwinds. That said, others are drawn in by the sheer growth potential of penny stocks. The fact is that even minor share price appreciation can mean huge percentage gains, and thus, serious returns. What’s more, your money goes further with these bargain names.No matter which side you take, one thing is certain, due diligence is necessary before making any investment decisions. That’s where the experts come in, namely the analysts at Roth Capital. These pros bring experience and in-depth knowledge to the table.With this in mind, our focus turned to two penny stocks that have received a thumbs up from Roth Capital analysts. Running the tickers through TipRanks’ database, both have been cheered by the rest of the Street as well, as they boast a “Strong Buy” analyst consensus. Not to mention substantial upside potential is on the table.Cellectar Biosciences (CLRB)Leveraging its patented phospholipid drug conjugates (PDCs) delivery platform, Cellectar Biosciences develops cutting-edge treatments for cancer. Based on the potential of its drug candidate, CLR 131, and its $1.24 share price, Roth Capital thinks that now is the time to get in on the action.Representing the firm, analyst Jonathan Aschoff tells clients that he is optimistic about CLR 131, which is a small-molecule, targeted PDC designed to deliver cytotoxic radiation directly and selectively to cancer cells, in the lymphoplasmacytic lymphoma (LPL)/Waldenstrom's macroglobulinemia (WM) indications. According to Aschoff, following its Type B guidance meeting with the FDA, “CLRB is prepared to initiate its first pivotal CLR 131 trial in LPL/WM after achieving a 100% ORR and 75% major response rate in four patients.” He points out that although CLRB just reported promising results in multiple myeloma (MM) (40% ORR in triple class refractory (TCR) patients at total body doses of at least 60mCi), LPL/WM was selected for the initial pivotal trial based on the very strong initial results and the lower competition for patients.“We view this as a prudent decision because NCCN compedia listing in MM is a mere peer-reviewed publication away, if first approved in LPL/WM. We also note that CLRB has steadily improved its dosing of CLR 131, essentially fractionating the doses so that higher total body doses are well tolerated,” Aschoff further explained. Adding to the good news, the therapy generated activity in preliminary Phase 1 unresectable brain tumors. Aschoff added, “Disease control was shown in two heavily pretreated patients with ependymomas, showing the drug's ability to cross the blood brain barrier, and all doses through 60 mCi/m2 have exhibited a favorable safety profile.”To this end, Aschoff rates CLRB a Buy along with a $10 price target. Investors could be pocketing a gain of 713%, should this target be met in the twelve months ahead. (To watch Aschoff’s track record, click here)Are other analysts in agreement? They are. 5 Buys and no Holds or Sells have been issued in the last three months. So, the message is clear: CLRB is a Strong Buy. Given the $5.48 average price target, shares could soar 345% from current levels. (See CLRB stock analysis on TipRanks)Applied Genetic Technologies (AGTC)With vast gene therapy experience, Applied Genetic Technologies designs and constructs all critical gene therapy elements and brings them together to develop successful treatments for patients. Currently going for $4.50 apiece, Roth Capital believes this stock’s long-term growth narrative is strong.Firm analyst Zegbeh Jallah points out that recently released data for its XLRP gene therapy program, which is expected to enter pivotal studies in Q1 2021, reaffirmed his bullish thesis. “Despite the market not fully appreciating the data given how the stock traded, we continue to believe that the results suggest that AGTC could have a best-in-class therapy, which is supportive of the planned pivotal efforts,” he explained.Providing an update on the results of the Phase 1/2 XLRP study, using the FDA's criteria, AGTC evaluated responses at 12 months in the lower dose groups (2 and 4), and 6 months in the higher dose groups (5 and 6). According to Jallah, “initial responses were observed in dose Groups 2, 3, 4, 5 and 6, with impressive response durability even at 12 months.”On top of this, at 6 months, the dose used in Group 5 resulted in a 43% response rate or a 57% response rate if excluding a patient not meeting the enrollment criteria. In Group 6, a response rate of 50% was observed, or 100% excluding patients not meeting the enrollment criteria.Jallah added, “All measurements were obtained in the 36 perimetry grid, which we believe should make it easier to preselect loci likely to respond. Although BCVA is not the primary endpoint, BCVA improvements, which can capture changes in the central region, were maintained at 12 months.”Even though some investors have expressed concern about Meira’s competing therapy, Jallah believes AGTC’s technology could have a leg up. “Overall, we believe that the data from both companies is strongly indicative of the efficacy potential of gene therapy for inherited retinal disease, and although differences in the study design makes direct comparisons difficult, we believe that AGTC could have a competitive advantage heading into pivotal studies,” he commented.In line with his optimistic approach, Jallah reiterated a Buy rating and $30 price target, indicating 568% upside potential. (To watch Jallah’s track record, click here)All in all, other analysts echo Jallah’s sentiment. 5 Buys and zero Holds or Sells add up to a Strong Buy consensus rating. The average price target of $18.25 is less aggressive than Jallah’s but still leaves room for upside potential of 306%. (See AGTC stock analysis on TipRanks)To find good ideas for penny stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
Dow Jones futures were in focus late Tuesday after Apple hit a new buy point. AMD, PayPal and Facebook are in or near buy zones.
The recent presidential election fueled gains in EV stocks as Biden's leadership is green-centric with large tax credits for EV purchases and investments in charging infrastructure. More and more people are shifting toward EVs, with the main reasons being cost-efficiency, improved battery life, and enhanced performance. However, the EV space is getting crowded, and not all the players in this booming market possess sound fundamentals.GM Pulls Out On Nikola Deal As in every market, there are 'weaker' players such as the controversial Nikola Corporation (NASDAQ: NKLA). Nikola and General Motors Company (NASDAQ: GM) did seal a deal on Monday, but not the one that was initially planned. A nonbinding memo has been signed by both parties for GM to supply the fuel-cell technology that Nikola needs to produce commercial long-haul trucks. But, there will be that as GM decided to withdraw from assuming an 11% equity stake in Nikola as initially proposed.Accusations of the company being "an intricate fraud built on lies" based on false statements by its founder were only made worse when Nikola admitted that the video showing the driving prototype was fake. Such a shame as hydrogen-electric vehicles and its Badger had a lot of promise. But the reality is that Nikola has not produced any products yet and doesn't even possess a manufacturing factory where it intends to produce the competitor to Tesla's Cybertruck sometime by 2022.Hyllion Might Be Subject To A SEC Investigation Hyllion Holdings Corp (NYSE: HYLN) designs, develops and sells electrified powertrain solutions, particularly electrified powertrain solutions for Class 8 commercial vehicles. It covers both hybrid and fully electric vehicles with its battery management. The company has recently gone public via a special purpose acquisition company SPAC through a merger with a shell company, Tortoise Acquisition II Corp (NYSE: SNPR). But since it began trading on October 2nd after a deal worth over $500 million, its stock has lost nearly 38.8% to date.Hyllion claimed that its technology would improve the fuel efficiency of its trucks by 10% to 30%, but Bonitas Research claims this to be a lie, with an external test by PAM Transportation Services confirming only "a small percentage" improvement in fuel efficiency. Moreover, the company might be subject to an investigation due to its claim of owning over 700 natural gas stations whereas, in reality, they have none.The company did install eight hybrid electric units during the third quarter this year for four fleet-based customers but despite anticipating $1 million in revenue for the year, Hyllion actually recorded zero revenues to date. It reported a loss of $0.76 per share compared to the year-ago loss of $0.45 per share. Over the quarter, it did enter a partnership with American Natural Gas resulting in a pre-order agreement for a purchase of 250 Hypertruck ERX vehicles but this is still not long-term revenue as the product is yet to deliver its promise. For the above reasons, its stock is prone to setbacks just like Nikola's.Outlook The automotive industry is gearing up for a race to deliver the world's first all-electric pick up as the upcoming era of electrification is being created in front of our eyes. But like in any race, there are always winners and losers.This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases - If you are looking for full Press release distribution contact: email@example.com Contributors - IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: firstname.lastname@example.orgThe post Nikola Bites the Dust, Hyllion Might Follow Suit appeared first on IAM Newswire.Photo by See more from Benzinga * Click here for options trades from Benzinga * This Week's Earnings Repertoire * Alibaba's Sophisticated Monopoly Strategy Expands To EVs(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Instead of betting on stock prices to rise, short sellers take the opposite side of the trade and profit when stock prices fall. Rising short interest can be a red flag for investors, but it can also set up a phenomenon known as a short squeeze. Short squeezes are large, short-term spikes in a stock that can occur when short sellers exit their positions all at once by buying shares of stock.
The "Mad Money" host made the bullish case this week for Facebook, Apple, Amazon, Netflix and Google parent Alphabet, even as the "smart money" keeps pushing the idea that it's time to move out of Big Tech and into value plays.
(Bloomberg) -- Hewlett Packard Enterprise Co. will move its headquarters to Houston, a major shift for a founding Silicon Valley computer maker now seeking haven in a lower-cost region while making way for a new generation of nimbler mobile and consumer-web giants.The company said it was already building a “state-of-the-art” new campus in Houston, the fourth-largest U.S. city. HPE also reported quarterly revenue that topped analysts’ predictions, suggesting that businesses are upgrading their data-center hardware during the coronavirus pandemic.HPE was created in the 2015 split of one of the consummate Bay Area technology companies, Hewlett-Packard Co., which was founded in 1939 in a Palo Alto garage. The move to Texas comes amid a broader re-evaluation, motivated by pandemic-enforced work-from-anywhere arrangements, by individuals and companies opting to leave behind a region known for its high cost of living and difficult commute.Chief Executive Officer Antonio Neri has been working to turn around HPE, a maker of servers, storage hardware and networking gear, which had reported declining revenue in all but one quarter since separating from personal-computer maker HP Inc. Neri is reducing the company’s overhead costs, exiting unprofitable businesses and chasing the hybrid-cloud market, in which businesses store and process some of their information in corporate data centers and some with public cloud companies.Sales in the quarter ended Oct. 31 were little changed from a year ago at $7.2 billion. Analysts, on average, estimated $6.9 billion, according to data compiled by Bloomberg. Profit, excluding some items, was 37 cents a share in the fiscal fourth quarter, HPE said Tuesday in a statement. Analysts had projected 34 cents.The spread of Covid-19 and the economic slowdown it triggered had suppressed demand for networking and computer hardware and services. Now that companies have settled into remote work for many employees, they’re investing in gear to make that more efficient.“The global pandemic has forced businesses to rethink everything from remote work and collaboration to business continuity and data insight,” Neri said in the statement. “We saw a notable rebound in our overall revenue, with particular acceleration in key growth areas of our business.”Hewlett Packard Enterprises follows a handful of other companies exiting at least in part from the San Francisco Bay Area. Newly public data-mining provider Palantir Technologies Inc. moved to Denver from Palo Alto earlier this year, while besieged e-cigarette maker Juul Labs Inc. is relocating to Washington from San Francisco. Charles Schwab Corp. said last year its headquarters will shift from San Francisco to Westlake, Texas. Many individuals, encouraged by laissez-faire work-from-home rules and put off by the cost of living in California, are also on the move.As Hewlett Packard Enterprises and its predecessor company receded from prominence in recent years, newer companies -- such as Alphabet Inc., Apple Inc. and Facebook Inc. -- have taken their place in the Silicon Valley pantheon.Fiscal fourth-quarter sales increased 6% from the prior period. In the current quarter, HPE projected that profit, excluding some items, will be 40 cents to 44 cents. That compares with an average analyst prediction of 35 cents, according to data compiled by Bloomberg. The company said sales will decline from the preceding period at a percentage in the mid-single digits, in line with normal seasonal patterns. A decline of 5% would indicate sales of about $6.84 billion. That compares with an average analyst estimate of $6.63 billion.The company will keep its technology innovation hub in San Jose, at a relatively new building, CEO Neri said on a conference call with analysts. Administrative work will be centered at the new Texas headquarters. Consolidating more expensive facilities in California will lead to real estate cost savings, he said.No staff reductions are associated with the move, HPE said in the statement. The company has locations in several cities in Texas, including Austin and Plano, and has more than 2,600 workers in Houston, according to a statement from the office of Governor Greg Abbott.HPE shares were little changed in extended trading after closing at $11.20 in New York. They have declined 29% this year.(Adds other companies leaving the Bay Area starting in eighth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The House will vote this week on the Holding Foreign Companies Accountable Act. Will it lead to the delisting of Alibaba stock and other China stocks?
Today after the bell, Salesforce reported its third-quarter earnings for its fiscal 2021, a period that ended October 31, 2020. Salesforce also had net income of $1.08 billion and earnings per share of $1.15. Shares of Salesforce were off after-hours, falling around 3.6% at the time of writing.
Electric vehicle companies are currently the stars of the stock market, but savvy investors are focused on a bigger and potentially more profitable picture
Another strong quarter for Salesforce revenue as the company looks to grow.
If you’re on the lookout for a resounding success story in 2020, look no further than Plug Power (PLUG). Alternative energy companies have caught investors’ imaginations this year and the hydrogen fuel cell player has been a prime beneficiary; Shares are up by a humongous 674% year-to-date.But the positive developments keep rolling in. On Monday, the company announced a new joint initiative with French transportation engineering company Gaussin. The two will develop a line-up of transportation vehicles running on Plug Power’s ProGen engine. The collaboration’s results will hit the market next year, targeting logistic centers, seaports, and airports.Oppenheimer analyst Colin Rusch believes the deal validates PLUG’s “market position as a leader in mobile fuel cell technology, while positioning its hydrogen business for accelerating growth.”“We believe Gaussin's expertise and positioning in logistics and heavy-duty vehicles suggest that PLUG will expand its footprint in material handling into multiple new locations like seaports, airports, and logistics centers on a global basis,” the 5-star analyst said. “We see the opportunity for PLUG to leverage its fueling expertise into these areas and see the potential for its hydrogen fuel business to become substantially bigger than its hardware business over the next decade.”In Europe, there is a growing emphasis on a shift to alternative energies; The decarbonization of airports and ports is high on the European Green Deal‘s agenda with a “specific emphasis on green hydrogen and electrification.”Rusch believes that in addition to the deal expanding Plug Power’s footprint in the region, the supplementary revenue stream “de-risks 2021/2022 estimates.”Furthermore, the “integrated solution (engines and electrolyzers), provides PLUG multiple paths to achieving its $1.2B revenue target in 2024.”Overall, Rusch rates PLUG an Outperform (i.e. Buy) along with a $23 price target. Despite Rusch’s confidence in the PLUG story, his target represents possible downside of ~6%. (To watch Rusch’s track record, click here)It’s a similar story amongst Rusch’s colleagues; All 9 recent PLUG reviews rate the stock a Buy, providing the company with a Strong Buy consensus rating. However, the $23.11 average price target is almost identical to the Oppenheimer analyst’s and implies shares will decline by 6% (See PLUG stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.