Experimental plastics recycling firm PureCycle Applied sciences (PCT 3.57%) received a lift this week from a bullish observe printed by an analyst. By late Thursday night, in accordance with information compiled by S&P International Market Intelligence, the corporate’s shares have been buying and selling greater than 18% larger week so far.
A bull reiterates his purchase suggestion
The PureCycle bull is Cantor Fitzgerald’s Andres Sheppard, who on Wednesday morning reiterated his obese — purchase, in different phrases — suggestion on the corporate’s inventory. He additionally maintained his $12-per-share worth goal.
Picture supply: Getty Photos.
In Sheppard’s view, in accordance with experiences, PureCycle is a effective long-term play because it leverages patented, unique know-how for plastics recycling. It additionally boasts a first-mover benefit and sits in entrance of a big complete addressable market.
PureCycle can also be actively demonstrating its choices to the world in a collection of buyer trials, of which there are greater than 30 at current, in accordance with the analyst. An additional slate of over 50 trials is pending. Lastly, it lately booked its first income, shifting it out of the experimental and into the business stage of its life.
The power to scale
The Cantor Fitzgerald pundit additionally sounded a bullish observe about PureCycle’s future, declaring {that a} facility at the moment in growth in Georgia ought to add significant scale to its operations. That plant is anticipated to change into operational in 2027.
Given its distinctive angle on plastics recycling, PureCycle is actually an intriguing funding. It is actually price a glance, as we reside in a world awash in plastic and good recycling options are welcome. I would say this can be a inventory to control.
Eric Volkman has no place in any of the shares talked about. The Motley Idiot has no place in any of the shares talked about. The Motley Idiot has a disclosure coverage.
