Plug Power (PLUG) Eyes Expansion in Energy Markets, TD Cowen Maintains Buy

Core Insights - Plug Power Inc. (NASDAQ:PLUG) is identified as a strong candidate for short squeeze opportunities in the current market [1] - TD Cowen has maintained a Buy rating for Plug Power but has reduced its price target from $4.50 to $4, following a recent symposium that highlighted client endorsements [1][2] - The company is focused on executing its growth strategy in material-handling and electrolyzer sectors while aiming for profitability [2] Financial Developments - Plug Power announced a $375 million convertible senior notes issuance scheduled for 2033 at a 6.75% interest rate, with estimated net proceeds of approximately $347.2 million [3] - The issuance is intended to refinance 15% of the company's debt, which has negatively impacted the stock price [2] Business Focus - Plug Power specializes in alternative energy technology, particularly in the development, design, manufacturing, and commercialization of hydrogen and fuel cell systems for material handling and stationary power markets [3]