TD Cowen analyst Thomas Boyes has maintained their bullish stance on PCT stock, giving a Buy rating yesterday.
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Thomas Boyes has given his Buy rating due to a combination of factors that highlight PureCycle Technologies’ promising future. The company has reported its first quarter of revenue, marking a significant step in its commercialization efforts, with expectations of further growth in the latter half of 2025. Management has successfully converted three customer trials into booked orders, showcasing the company’s progress in the market.
Additionally, PureCycle’s successful trial with Bruckner opens up a substantial opportunity in the film market, potentially unlocking a 30 billion pound annual film total addressable market. The company has also made strides with its Ironton facility, achieving 87% onstream in April. Despite the lack of updates on project financing for the Augusta line, the overall positive momentum in commercialization and trial conversions supports the Buy rating.
Boyes covers the Industrials sector, focusing on stocks such as PureCycle Technologies, Eos Energy Enterprises, and ESS Tech. According to TipRanks, Boyes has an average return of -35.3% and a 14.00% success rate on recommended stocks.
In another report released yesterday, Alembic Global also reiterated a Buy rating on the stock with a $18.00 price target.