Graphene Manufacturing Group Ltd (GMG – Research Report), the Basic Materials sector company, was revisited by a Wall Street analyst yesterday. Analyst Amit Dayal from H.C. Wainwright maintained a Buy rating on the stock and has a C$8.00 price target.
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Amit Dayal has given his Buy rating due to a combination of factors that highlight the potential of Graphene Manufacturing Group Ltd. The company is in the early stages of commercializing its innovative graphene products, which are aimed at next-generation applications such as batteries, lubrication additives, and energy-saving products. The recent ISO 9001:2015 certification is expected to bolster their business development efforts, and multiple parties are currently testing their graphene offerings.
Additionally, Graphene Manufacturing Group Ltd is working with Nu Calgon to introduce the THERMAL-XR coating system for HVAC systems in the U.S., with the approval of the Pre-Manufacture Notice in 2025 anticipated as a significant catalyst for the stock. The company is also expected to leverage partnerships with established players to expedite market entry across various sectors. The unique properties of graphene, such as thermal conductivity and durability, make it suitable for a wide range of industries, and successful scaling of production could capture significant market share in large industries like energy storage and EV batteries.
GMG’s price has also changed moderately for the past six months – from C$0.660 to C$0.750, which is a 13.64% increase.