Origin Materials Set For Early Profitability, Analyst Highlights Positioning For Long-Term Growth, Upgrades Stock
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Origin Materials shares jumped 26.4% following a Q2 report showing a loss per share of $0.14 and $0.03 million in sales. The company secured a 2-year MOU for PET closure production, set to generate significant revenue starting in 2025. BofA's Steve Byrne upgraded the stock from Neutral to Buy, raising the price target to $1.00, and noted potential for profitability by 2026 with ongoing contract discussions. Byrne highlighted long-term growth potential in Origin's biomass conversion technology and projected substantial licensing income by 2028.
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