Tigo Energy, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Amit Dayal from H.C. Wainwright reiterated a Buy rating on the stock and has a $6.00 price target.
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Amit Dayal has given his Buy rating due to a combination of factors including Tigo Energy’s strategic partnership with EG4 Electronics, which is expected to bolster their U.S. manufacturing and sales efforts. This collaboration is anticipated to enhance Tigo’s operational momentum and significantly improve its revenue outlook, with a projected 94% year-over-year revenue increase by 2025.
Additionally, Dayal highlights Tigo’s strong financial position, with a solid balance sheet and $28 million in cash, which supports the company’s growth potential and reduces market risk in the U.S. market. The company’s guidance for future revenues and EBITDA, along with projected long-term growth, further reinforces the Buy rating. Despite potential risks such as supply chain and regulatory challenges, Dayal believes Tigo remains undervalued, making it an attractive investment opportunity.