Plug Power Inc (PLUG)

[canadajim]

After almost one year Morgan Stanley initiates coverage.

The price target has been set at $3 according to Benzinga.

http://www.benzinga.com/news/15/04/5393743/morgan-stanley-initiates-coverage-on-plug-power-at-equal-weight-announces-3-00-pt

It was Morgan Stanley that was chosen as book manager for Plug's share offering last April that generated the working capital the company relies upon today for day to day operations.

http://blogs.wsj.com/moneybeat/2014/04/24/plug-powers-up-capital-raising-effort-with-fresh-stock-sale/

I wonder why it took so long and why they are initiating coverage now?

The transaction last year also raised a few other eyebrows :

http://www.loevy.com/become-a-plug-power-whistleblower-anonymously/

is the top link on Google when you enter Morgan Stanley "Plug Power" as the search term.

There are now so many law firms dredging the waters behind Plug Powers boat is it only a matter of time before they come up with something real? (Or even enough PO'ed shareholders who believe that there is something nefarious going on to initiate a law suit?)

Curious....