PureCycle Technologies stock maintains Overweight rating at Cantor Fitzgerald
Investing.com
Published Jul 07, 2025 08:18AM ET
Investing.com - Cantor Fitzgerald has reiterated an Overweight rating on PureCycle Technologies (NASDAQ:PCT) with a price target of $16.00. The stock has shown remarkable momentum, delivering a 151% return over the past year and trading near $13.76, close to its 52-week high of $15.58.
The firm maintained its positive stance on the recycling technology company following PCT's announcement of a partnership with Emerald Carpets, a private company specializing in trade show carpets. Based on InvestingPro analysis, PCT currently appears overvalued relative to its Fair Value, despite its strong market performance.
Under the partnership agreement, PureCycle will supply 5 million pounds of its PureFive Choice resin annually to Emerald Carpets, with the aim of creating a closed-loop circularity in carpet production.
The companies have already qualified the resin for multiple applications and are currently testing additional applications to expand their portfolio offering.
The PureFive Choice resin is being blended into Emerald's existing fiber production, according to Cantor Fitzgerald's research note.
In other recent news, PureCycle Technologies announced a significant $300 million capital raise to support its ambitious plan to achieve one billion pounds of plastic recycling capacity by 2030. This funding, sourced from investors including Duquesne Family Office LLC and Wasserstein Debt Opportunities, will aid the company's expansion across the United States, Europe, and Asia. PureCycle has also entered a partnership with IRPC Public Company Limited to build a polypropylene recycling facility in Thailand, expected to start operations by mid-2027. Additionally, plans are underway for a similar facility in Antwerp, Belgium, slated for 2028, and a larger "Gen 2" facility in Augusta, Georgia, with a projected start in 2029.
Cantor Fitzgerald has reiterated its Overweight rating on PureCycle, maintaining a price target of $12.00. The firm remains optimistic about the company's long-term prospects, citing its patented technology licensed through Procter & Gamble and its strategic market position. PureCycle's recent announcement of its first-ever revenue and the production of 4.3 million pounds of resin in the first quarter at the Ironton facility further supports this positive outlook. The company is currently engaged in more than 30 customer trials, with over 50 additional trials pending, which analysts believe could lead to significant sales volumes. With approximately 14 million pounds of inventory, PureCycle is well-positioned to scale its operations and meet future demand.
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