- Purecycle Technologies Inc PCT was initiated at Jefferies with a Buy rating and $25 price target, implying an upside of 85.50%.
- The analyst, Hamzah Mazari, thinks that higher growth and better margins than waste peers are partially offset by execution risk and feels that the company could see multiple expansion and discount contraction long-term with execution.
- Peers of Purecycle include Kronos Worldwide, Inc KRO, Orion Engineered Carbons S.A. OEC, AdvanSix Inc. ASIX, Trinseo S.A. TSE, and Westlake Chemical Partners LP WLKP.
- Price Action: PCT shares closed higher by 3.93% at $13.48 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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