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Investing.com - TD Cowen has raised its price target on PureCycle Technologies (NASDAQ:PCT) to $16.00 from $13.00 while maintaining a Buy rating on the stock. The company, currently valued at $2.2 billion, has seen its stock surge nearly 96% over the past year.
The price target increase comes as PureCycle Technologies begins to ramp up its newly announced capacity plan, which aims to reach approximately 1 billion pounds of production capacity. The stock has demonstrated strong momentum, gaining over 42% in the past six months, though InvestingPro analysis indicates current trading levels may be stretched relative to its Fair Value.
TD Cowen noted that it is closely monitoring incoming orders for PureCycle, as a significant increase in orders would validate the company’s value proposition and potentially drive rapid revenue growth.
The firm also highlighted that execution at PureCycle’s Ironton facility and new construction projects in Thailand and Antwerp will be critical factors for the company’s success.
The higher price target specifically reflects TD Cowen’s optimistic outlook regarding PureCycle’s new capacity expansion plans.
In other recent news, PureCycle Technologies announced a $300 million capital raise to expand its global recycling capacity to one billion pounds by 2030. This funding comes from several investors, including Duquesne Family Office LLC and Wasserstein Debt Opportunities, and will support expansion efforts across the United States, Europe, and Asia. Additionally, Cantor Fitzgerald has reiterated its Overweight rating on PureCycle Technologies, maintaining a price target of $16.00. The firm cited the company’s production achievements, including producing 3.4 million pounds of resin in the second quarter of 2025, and its expanding commercial pipeline. PureCycle also completed a rate test in August, reaching 14,000 pounds per hour, which approaches its nameplate capacity. The company has recently partnered with Emerald Carpets, further enhancing its commercial reach. Cantor Fitzgerald also mentioned increased investor interest in PureCycle, focusing on the progress at its Ironton facility and the ramp-up of its second production facility in Augusta. These developments highlight PureCycle’s strategic growth and operational advancements.
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