Is Now The Time To Buy Eos Energy Amid $400M DOE Loan And Project AMAZE? Analyst Weighs In
Portfolio Pulse from Lekha Gupta
Guggenheim analyst Joseph Osha upgraded Eos Energy Enterprises Inc (NASDAQ:EOSE) to Buy from Neutral with a price target of $10. The upgrade follows Eos Energy's $400 million conditional loan commitment from the Department of Energy and the launch of Project AMAZE, a $500 million expansion for clean energy storage production. Despite potential challenges, the analyst believes Eos Energy's product portfolio is superior to other non-lithium-ion technology providers. B.Riley Securities and Stifel also increased their price targets for EOSE.
September 01, 2023 | 5:51 pm
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Eos Energy Enterprises Inc (EOSE) has been upgraded to Buy from Neutral by Guggenheim, with a price target of $10. The company has also received a $400 million loan from the Department of Energy and launched a $500 million clean energy project. Other analysts have also increased their price targets.
The upgrade by Guggenheim, along with the increased price targets by other analysts, indicates a positive outlook for Eos Energy. The $400 million loan from the Department of Energy and the launch of a $500 million clean energy project are significant developments that could boost the company's growth and profitability.
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