Analyst Tate Sullivan of Maxim Group maintained a Buy rating on Eco Wave Power Global, with a price target of $15.00.
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Tate Sullivan has given his Buy rating due to a combination of factors that highlight Eco Wave Power Global’s potential in the wave energy sector. Despite reporting no revenue in the third quarter of 2025, the company is actively developing multiple wave energy projects worldwide. This includes collaborations with significant partners like a Shell affiliate, EDF Renewables, and Bharat Petroleum Corporation, which are expected to reimburse some project design costs.
Furthermore, Sullivan’s analysis incorporates a long-term perspective, projecting substantial revenue growth by 2035 based on the global opportunity for wave energy. The analysis considers the vast potential of wave power, given the extensive coastline available for development. Although the company currently faces a slower pace in project development than initially expected, the strategic partnerships and future revenue potential justify the Buy rating, supported by a 12-month price target derived from a detailed discounted cash flow analysis.
Sullivan covers the Industrials sector, focusing on stocks such as Seanergy Maritime, ABM Industries, and Tetra Tech. According to TipRanks, Sullivan has an average return of 0.4% and a 47.98% success rate on recommended stocks.