In a report released yesterday, Nicholas Cortellucci from Atrium Research maintained a Buy rating on Braille Energy Systems Inc (BES – Research Report), with a price target of C$0.15.
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Nicholas Cortellucci has given his Buy rating due to a combination of factors, primarily focusing on Braille Energy Systems Inc’s recent strategic advancements. The company has entered into a significant agreement with Enercare to distribute and install its home backup power systems, a move that is expected to boost sales once the onboarding process is complete. Despite these positive developments, the market has not yet reflected this progress, as evidenced by the stock’s decline year-to-date.
Additionally, Braille Energy Systems is making headway with its Electrafy product, a modern and eco-friendly home energy storage solution. This product is set to expand into larger retail and home builder markets, showcasing the company’s potential for growth. Furthermore, the EarlyAlert product is nearing the end of its development phase and is expected to enter the sales phase soon. These factors combined support the Buy rating and the target price of $0.15 per share.
According to TipRanks, Cortellucci is an analyst with an average return of -11.4% and a 22.54% success rate.