EOSE Stock (EOSE:NSD) Analyst:
Last Closing Price: $1.15
Consensus Analyst Rating: Strong Buy
12-Month Price Target: $6.33
Market Beat: $0.09 Billion
EOSE Stock (EOSE:NSD) gained 12.3% in early trading on Friday after Stifel initiated coverage with a Buy rating and Street-high $11 price target, noting that the company’s backlog provides great visibility for revenue growth.
Eos Energy (EOSE) “has commercialized one of the most proven grid storage battery chemistries on the market, which is required for future adoption of renewables given the inherent limits of lithium-ion chemistry,” noted Vincent Anderson of Stifel.
Anderson stated that the 2023 ramp-up of the Z3 battery “could dramatically lower unit costs, turning the corner to profitability even without the additional 30 percent or more reduction from IRA credits.”
The market has “overly negative expectations” for EOS Energy’s (EOSE) near-term liquidity needs, according to the analyst, but these may be met using existing funding sources and no extra shareholder dilution, even if the imminent Department of Energy loan does not entirely solve them.
EOSE Stock-Analyst Ratings:
Evercore ISI lowered the EOSE stock price target to $4.
B. Riley also lowered the EOSE stock price target from $6 to $4.
About Eos Energy Enterprises Inc. (EOSE:NSD):
Eos Energy Enterprises, Inc. designs, manufactures, and deploys battery storage solutions for utility, commercial and industrial, and renewable energy markets in the United States. It offers stationary battery storage solutions.
The company’s flagship product is the Eos Znyth DC battery system designed to meet the requirements of the grid-scale energy storage market. Eos Energy Enterprises, Inc. was founded in 2008 and is headquartered in Edison, New Jersey.