TD Cowen analyst Thomas Boyes raised the firm’s price target on PureCycle Technologies to $7.50 from $6 and keeps a Buy rating on the shares. The firm said the company is in the process of ramping up its first polypropylene recycling facility in Ironton, Ohio. The company’s unique technology allows it to produce near-virgin quality polypropylene cost effectively, which can be used in high value applications that traditionally recycled polypropylene cannot address and Cowen calls it their best Smidcap Idea.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PCT:
- Unusually active option classes on open June 21st
- PureCycle to receive expanded FDA LNO for PureFive resin use
- PureCycle Technologies provides update on Ironton purification facility
- Purecycle’s New Deal with Pure Plastic: Navigating Risks and Shareholder Impact Amid Debt Restructuring
- PureCycle Technologies reports Q1 EPS (52c), consensus (15)