PureCycle Technologies price target raised to $6 from $4 at Craig-Hallum

Craig-Hallum analyst Eric Stine raised the firm’s price target on PureCycle Technologies to $6 from $4 and keeps a Hold rating on the shares. The company’s Q2 business update included progress and challenges at Ironton, its production outlook in Q3, and a commercial update, the analyst tells investors. While the company was showing volume improvements in Q2 and the expected plant improvement needed to address its CP2 recovery system will not require plant downtime, this upgrade could be viewed as another example of “something always popping up” to limit production, the firm adds.