Thomas Boyes, an analyst from TD Cowen, maintained the Hold rating on Eos Energy Enterprises (EOSE – Research Report). The associated price target was raised to $5.00.
Thomas Boyes has given his Hold rating due to a combination of factors that reflect both positive developments and ongoing challenges for Eos Energy Enterprises. On the positive side, the company has secured significant new orders amounting to $174.2 million in the fourth quarter of 2024, and management plans to expand manufacturing capacity with an additional 6GWh. The reaffirmation of the FY25 guidance between $150 million and $190 million, along with a positive contribution margin for the Z3 product line, are encouraging signs.
However, Boyes also notes some concerns that justify a Hold rating. Despite the positive contribution margin on the Z3, it has not been fully achieved across the total backlog, which includes projects with varying requirements. Additionally, while the company’s pipeline of opportunities has grown, challenges remain in securing projects with shorter duration requirements. These mixed signals suggest that while there is potential for growth, there are also uncertainties that warrant a cautious approach, leading to the Hold recommendation.
According to TipRanks, Boyes is ranked #9265 out of 9384 analysts.
In another report released yesterday, Roth MKM also maintained a Hold rating on the stock with a $5.00 price target.