- Baird analyst George Gianarikas initiated ESS Tech Inc. (NYSE:GWH) with an Outperform rating and a price target of $15, implying an upside of 17.6%. ESS Tech manufactures long-duration batteries for commercial and utility-scale energy storage applications.
- Given energy storage's ability to remedy weaknesses inherent in renewable energy production, the utility-scale storage market is set for outsized growth and long-duration energy storage has the potential to accelerate market growth as it addresses the need for continuous power over extended periods.
- In this context, ESS's iron flow solution "could prove differentiated, scalable, and economic," mentions Gianarikas.
- He also recognizes operational, manufacturing, and general execution risks and a heightened competitive environment.
- Price Action: GWH shares are trading higher by 3.24% at $12.76 on the last check Wednesday.
