PureCycle Technologies price target raised to $15 from $8 at Stifel

Stifel analyst Michael Hoffman raised the firm’s price target on PureCycle Technologies (PCT) to $15 from $8 and keeps a Buy rating on the shares. Over the last three quarters, PureCycle has demonstrated its ability to solve manufacturing issues and reach commercial levels of production, while the recent focus on offering compounded pellets improves the economics, adoption rate and timeline, the analyst tells investors following the company’s Q3 report and conference call.