Amit Dayal, an analyst from H.C. Wainwright, reiterated the Buy rating on Electrovaya. The associated price target remains the same with $10.00.
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Amit Dayal has given his Buy rating due to a combination of factors that highlight Electrovaya’s strong financial performance and promising growth prospects. The company reported a significant year-over-year increase in net revenues for F3Q25, alongside a transition from an operating loss to a profit, indicating improved profitability and operational efficiency. Additionally, Electrovaya’s management has provided a conservative revenue guidance for FY2025, which suggests potential for further upside as business momentum continues.
Electrovaya’s strategic initiatives, such as expanding its production capacity and diversifying its revenue streams, are expected to drive future growth. The company’s backlog of firm purchase orders and the anticipated start of Jamestown cell manufacturing operations in 2026 are key growth drivers. Moreover, the potential launch of recurring revenue offerings and qualification for tax incentives could enhance margins and cash flow. These factors, combined with a stronger balance sheet and industry-leading battery performance, position Electrovaya well for sustained revenue and earnings growth, justifying the Buy rating.
In another report released today, TR | OpenAI – 4o also upgraded the stock to a Buy with a C$7.50 price target.