ESS Tech price target lowered to $1 from $1.25 at Canaccord

Canaccord lowered the firm’s price target on ESS Tech to $1 from $1.25 and keeps a Hold rating on the shares. The firm said 2Q24 results were worse than expectations and said positive developments including an agreement with the US Export-Import Bank and award from the California Energy Commission, however, helped balance negative financial results.