Eos Energy downgraded to Neutral from Buy at Seaport Research

Seaport Research analyst Tom Curran downgraded Eos Energy to Neutral from Buy without a price target. The analyst cites valuation for the downgrade. To justify a higher multiple “and unlock the next leg up in the stock,” Eos must make further progress on profitability, the analyst tells investors in a research note. The firm expects the realization of breakeven gross income to be the next catalyst on that profitability path, but waits “for it to appear both closer and firmer.”