Benzinga | Oct 8, 2021 03:34PM EDT

Barclays Upgrades Plug Power, Expects Upcoming Analyst Day To Ignite Some Momentum

* Barclays analyst Moses Sutton upgraded Plug Power Inc (NASDAQ:PLUG) to Equal Weight from Underweight with an unchanged price target of $27.

* Sutton believes that the company's analyst day on October 14 "could reasonably ignite some momentum" and drive the shares toward a new baseline for the next 6-12 months, or at least set a high-$20s "floor."

* Further, he adds that an infrastructure bill is another potential upside driver, even if the potential of passage is under 50%.

* Also Read: Is Plug Power Ready To Breakout After Being Pinched Between Support And Resistance?

* Price Action: PLUG shares are trading higher by 3.97% at $27.125 on the last check Friday.