TD Cowen analyst Thomas Boyes has maintained their bullish stance on PCT stock, giving a Buy rating today.
Thomas Boyes has given his Buy rating due to a combination of factors that highlight PureCycle Technologies’ promising path towards commercialization. The company has made significant strides with its initial commercial shipments to Drake Extrusion for fiber applications, marking a key milestone in its growth trajectory. Additionally, PureCycle’s collaboration with Churchill is gaining momentum, particularly with sports teams interested in their recycled products, which indicates a growing market acceptance.
Moreover, the company’s strategic partnership with P&G is expected to expand, with multiple trials planned that could increase demand significantly. The amended agreement with P&G, granting North American exclusivity, further strengthens PureCycle’s market position. Despite some challenges in volume expectations, the focus on customer acceptance and adoption is seen as more critical at this stage, supporting the positive outlook for PureCycle’s stock.
In another report released today, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $14.00 price target.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PCT in relation to earlier this year.
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