H.C. Wainwright Keeps Their Buy Rating on Tecogen (TGEN)

By Ryan Adsit

In a report released today, Amit Dayal from H.C. Wainwright maintained a Buy rating on Tecogen (TGENResearch Report), with a price target of $6. The company’s shares closed yesterday at $3.51.

Dayal commented:

“Our $6.00 price target for the company is derived using a DCF analysis. For our analysis, we have projected total revenues to increase from an estimated $39.9M in 2019 to $127.0M in 2025, growing at a six-year CAGR of 21.3%.”

According to TipRanks.com, Dayal is a 1-star analyst with an average return of -1.3% and a 48.0% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Advanced Emissions Solutions, Inc., Ballard Power Systems, and Orion Energy Systems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tecogen with a $5.50 average price target.

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The company has a one-year high of $4.20 and a one-year low of $2.94. Currently, Tecogen has an average volume of 29.31K.

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Tecogen, Inc. engages in the design, manufacture, marketing, and maintenance of cogeneration and combined heat and power products. It operates through the Products and Services; and Energy Production segments. The Products and Services segment designs, manufactures, and retails industrial and commercial cogeneration systems.