Eos Energy price target lowered to $7 from $12 at Evercore ISI

Evercore ISI lowered the firm’s price target on Eos Energy to $7 from $12 and keeps an Outperform rating on the shares. Eos continues navigating throughout the transition process to its Z3 Cube after a few challenging quarters and is on schedule for full state-of-the-art line 1 commissioning in Turtle Creek by Q2, notes the analyst, who continue to believe Eos is at an inflection point in the transition to Z3 batteries and “remains in a great position to achieve profitability and rapid growth.”