Evercore ISI analyst James West raised the firm’s price target on Eos Energy (EOSE) to $17 from $4 and keeps an Outperform rating on the shares. The energy storage sector, as “one of the most rapidly expanding sub-sectors within the clean energy landscape,” has been on “a strong upward trajectory,” says the analyst, who is remaining bullish on energy storage and raising price targets for a trio of names in the group. Evercore has “strong confidence” in Stem (STEM), Fluence (FLNC) and Eos amid the competitive landscape of the energy storage industry, as it argues that each exhibits substantial upside potential and maintains a competitive edge through expertise in technology advancement, digital capabilities and service delivery.
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