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Investing.com - Roth/MKM initiated coverage on Tecogen (OTC:TGEN) with a Buy rating and a $15.00 price target on Monday. The stock, currently trading at $8.29, has delivered an impressive 917% return over the past year, though InvestingPro analysis indicates the stock is trading above its Fair Value.
The research firm cited Tecogen’s potential to capitalize on opportunities in the data center cooling market, projecting revenue growth of 50% in fiscal year 2026 and 74% in fiscal year 2027. Roth/MKM expects Tecogen to reach positive adjusted EBITDA in late 2026, a significant improvement from the current -$3.14 million EBITDA. The company maintains a moderate debt level with a debt-to-equity ratio of 0.41.
Tecogen, which specializes in cogeneration technology that simultaneously produces electricity and heat or cooling from a single fuel source, entered a global strategic partnership with Vertiv (NYSE:VRT) effective March 1, 2025.
Under the two-year agreement, Vertiv will market Tecogen’s engine-driven chillers as part of its worldwide offering for data centers, establishing a foundation for future supply arrangement negotiations.
Tecogen management estimates that a single small-to-medium-sized AI data center site of approximately 50 megawatts could generate product sales exceeding $13 million.
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