PureCycle Technologies (PCT) received a Buy rating and a $30.00 price target from Alembic Global analyst Hassan Ahmed today. The company’s shares closed last Friday at $20.07.
According to TipRanks.com, Ahmed is a 5-star analyst with an average return of 15.7% and a 53.5% success rate. Ahmed covers the Basic Materials sector, focusing on stocks such as Venator Materials, Westlake Chemical, and Chemours Company.
Currently, the analyst consensus on PureCycle Technologies is a Strong Buy with an average price target of $36.75, representing a 91.2% upside. In a report issued on May 24, Oppenheimer also initiated coverage with a Buy rating on the stock with a $24.00 price target.
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Based on PureCycle Technologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $30.12 million. In comparison, last year the company had a GAAP net loss of $3.09 million.
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