Guggenheim upgraded Eos Energy to Buy from Neutral with a $10 price target following yesterday’s news that the Department of Energy has provided a $400M conditional loan commitment to the company. The “long-awaited” announcement marks the end of a lengthy technical and due diligence process and the loan guarantee should underpin an expansion to 8GWh in annual production capacity by mid-2026, the analyst tells investors. The firm’s price target reflects its updated revenue and EBITDA outlook for 2025, arguing that the conditional commitment is significant as it signals that Eos has passed the LPO’s due diligence process.
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