Nel Falls Again as Several Brokers Cut Price Targets, but Bank of America Reiterates Buy

• (PLX AI) - Nel falls another 5% after several brokers including Citigroup, Kepler Cheuvreux and SEB cut their price targets on the stock after earnings missed consensus.
• • However, Bank of America kept its price target unchanged and reiterated a buy recommendation, pointing to Nel's project pipeline value of nearly $5 billion
• • Standardization will eventually allow Nel to reduce prices, cut delivery time and open up the addressable hydrogen market, BofA said
• • BofA has a price target of NOK 45 for Nel, implying more than 200% upside