Here is Why Analysts are Looking at PureCycle Technologies (PCT)

On December 19, Craig-Hallum expert Eric Stine gave a Hold standing to PureCycle Technologies (NASDAQ:PCT). Despite Stine’s neutral stance connected the company, the wide statement arsenic of December 22 remains positive. As per expert estimates, the banal has a people terms of $16, which gives astir 73.5% upside imaginable from the existent level. PureCycle Technologies (NASDAQ:PCT) is covered by 7 analysts, 4 of whom person assigned Buy ratings and 3 Hold ratings.

Photo by Nick Fewings connected Unsplash

On December 11, absorption announced archetypal income of its PureFive resins to 1 of the apical 5 planetary overgarment and coatings companies for headdress production. The income occurred aft the merchandise underwent stringent investigating protocols acceptable by the customer. After passing these protocols, spray overgarment cans on with the above-mentioned caps are present disposable connected store shelves.

PureCycle Technologies (NASDAQ:PCT) CEO Dustin Olson added:

“The caps and closures marketplace represents a large accidental for our company. Polypropylene is predominantly utilized successful North America for caps and closures, with much than 300 cardinal pieces produced annually. This proviso concern with 1 of the starring overgarment and coating companies successful the satellite demonstrates that manufacturers tin execute their sustainability goals and conscionable merchandise show requirements erstwhile they usage our PureFive resin.”

PureCycle Technologies (NASDAQ:PCT) uses its patented solvent-based purification exertion to recycle discarded polypropylene into recycled resin. This exertion allows them to abstracted color, odor, and different contaminants from integrative waste, making it a renewable root for companies.

While we admit the imaginable of PCT arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you’re looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

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Disclosure: None. This nonfiction is primitively published astatine Insider Monkey.