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Jefferies Reaffirms Their Buy Rating on PureCycle Technologies (PCT)

Jefferies analyst Hamzah Mazari maintained a Buy rating on PureCycle Technologies (PCTResearch Report) yesterday and set a price target of $25.00. The company’s shares closed last Thursday at $9.24, close to its 52-week low of $4.94.

According to TipRanks.com, Mazari is a 4-star analyst with an average return of 8.5% and a 57.1% success rate. Mazari covers the Services sector, focusing on stocks such as Republic Services, Waste Connections, and GFL Environmental.

Currently, the analyst consensus on PureCycle Technologies is a Strong Buy with an average price target of $23.67, representing a 185.9% upside. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $16.00 price target.

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Based on PureCycle Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $20.98 million. In comparison, last year the company had a GAAP net loss of $6.61 million.

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Roth CH Acquisition I Co is a blank check company. It is formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities.

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