In a report released today, Amit Dayal from H.C. Wainwright maintained a Buy rating on TOMI Environmental Solutions, with a price target of $3.50.
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Amit Dayal has given his Buy rating due to a combination of factors that highlight TOMI Environmental Solutions’ potential for growth. The company’s recent third-quarter results showed a significant improvement in revenue compared to the previous quarter, driven by increased equipment purchases and strong sales of their BIT Solution. This revenue growth, coupled with disciplined cost management, positions the company well for future expansion.
Additionally, the recent FDA approval for the expanded use of hydrogen peroxide in food applications is expected to open up substantial new markets for TOMI, particularly in the ready-to-eat and packaged food sectors. The company’s growing backlog and pipeline suggest continued revenue growth, and projections indicate a substantial increase in revenue over the next decade. Despite some risks such as dilution and supply-chain delays, the company’s strategic investments in R&D and sales efforts are expected to drive long-term value, supporting the Buy rating.