Amit Dayal, an analyst from H.C. Wainwright, maintained the Buy rating on Montana Technologies (AIRJ – Research Report). The associated price target remains the same with $12.00.
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Amit Dayal has given his Buy rating due to a combination of factors including Montana Technologies’ recent capital infusion and strategic collaborations. The company has secured approximately $38 million in funding, significantly enhancing its ability to push forward with commercialization efforts. This financial boost, anchored by GE Vernova, positions the company well to expand its market presence and refine its technology.
Amit Dayal also highlights the importance of Montana Technologies’ collaboration with Arizona State University, which is expected to validate the company’s technology under various real-world conditions. The deployment of demonstration units in strategic locations like Dubai further showcases the potential of their water harvesting technology in high-demand regions. These developments, along with anticipated deployments of additional proof-of-concept units, are seen as near-term catalysts that could drive the stock’s performance, supporting the Buy rating.