In a report released today, James Jang from Maxim Group reiterated a Buy rating on Tecogen (NASDAQ: TGEN), with a price target of $5. The company’s shares opened today at $3.35.
Jang noted:
“Although we are lowering our price target to $5, from $6, we believe TGEN’s robust backlog and growth potential through the Ultera Emissions Technology could allow for long-term revenue growth; keeping our long-term thesis remains intact.”
According to TipRanks.com, Jang is a 4-star analyst with an average return of 17.0% and a 41.4% success rate. Jang covers the Services sector, focusing on stocks such as Dynagas LNG Partners LP, Nordic American Tanker, and Eagle Bulk Shipping.
Currently, the analyst consensus on Tecogen is a Moderate Buy with an average price target of $6.
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The company has a one-year high of $4.20 and a one-year low of $2.05. Currently, Tecogen has an average volume of 22.24K.
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Tecogen, Inc. engages in the design, manufacture, marketing, and maintenance of cogeneration and combined heat and power products. It operates through the Products and Services; and Energy Production segments. The Products and Services segment designs, manufactures, and retails industrial and commercial cogeneration systems.
