Eos Energy price target raised to $20 from $10 at Guggenheim

Guggenheim raised the firm’s price target on Eos Energy (EOSE) to $20 from $10 and keeps a Buy rating on the shares. Yesterday’s announcements underscore the company’s “emerging position as the only viable alternative to lithium-ion energy storage in the United States,” says the analyst, who says that longer-duration technologies are much earlier in their commercialization journey compared to Eos. “No other company that we know of, in our decade-plus history of studying the energy storage market, has gotten this far with an alternative to lithium-ion,” adds the analyst, who calls Eos’ ability to supply a solution free of supply chain and political entanglements bound to lithium-ion “a significant advantage.”