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Investing.com - Stifel has more than doubled its price target on Eos Energy Enterprises (NASDAQ:EOSE) to $22.00 from $10.00 while maintaining a Buy rating on the energy storage company. The stock has shown remarkable momentum, delivering a 249% return year-to-date and reaching a market capitalization of $4.74 billion.
The significant price target increase comes amid sharply higher share prices for Eos Energy over recent weeks, which Stifel attributes to expected manufacturing progress at the company’s Turtle Creek, Pennsylvania facility and growing market enthusiasm for power generation and storage solutions needed for AI data centers. According to InvestingPro data, the company has demonstrated strong operational momentum with revenue growth of 128.49% in the last twelve months.
Stifel does not anticipate any significant revenue upside for the second half of 2025 and expects the upcoming third-quarter earnings results to be a "nonevent" for the company.
Despite the modest near-term outlook, the research firm expressed increasing confidence in Eos Energy’s progress and robust growth potential over the next several years.
The new $22 price target is based on 13-14 times Stifel’s 2028 EBITDA forecast for the company, reflecting the firm’s long-term growth expectations for Eos Energy Enterprises.
In other recent news, Eos Energy Enterprises has entered into a multi-year partnership with Unico for the supply of DC-to-DC converters. This agreement, effective from April 2025, will see Unico providing power conversion systems to be integrated with Eos’s Znyth aqueous zinc battery systems over the next five years. Additionally, Eos Energy’s stock price target has been raised to $10 by both Stifel and Guggenheim, with Stifel maintaining a Buy rating following observations at Eos’s Turtle Creek manufacturing facility. Guggenheim’s adjustment was influenced by recent financial results and discussions with Eos’s management. Meanwhile, Jefferies has initiated coverage on Eos Energy with a Hold rating, citing near-term challenges as the company works on scalability. In leadership developments, Eos Energy has appointed John Mahaz as its new Chief Operating Officer. Mahaz brings extensive experience from his previous role at Jabil Inc., where he managed operations across multiple regions.
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