PureCycle Technologies price target raised to $16 from $13 at TD Cowen

TD Cowen raised the firm’s price target on PureCycle Technologies (PCT) to $16 from $13 and keeps a Buy rating on the shares following the Q2 report. The firm cites the company’s newly announced 1B pound capacity plan for the target increase. A large influx of orders would validate PureCycle’s value proposition and drive “rapid” revenue growth, the analyst tells investors in a research note.