It was reported by the Wise Finance APP that Stifel has released a research report, reiterating its "buy" rating on U.S. zinc battery energy developer Eos Energy (EOSE.US), with a target price of $6. The firm stated that the expected growth of renewable energy and the battery storage demand to support the grid will drive up the demand for the company's zinc bromide batteries.

Stifel analyst team led by Stephen Gengaro stated that Eos Energy's backlog of orders and pipeline of opportunities is strong. The company has made significant progress in expanding its first automated production line, and further added that recent funding from Cerberus and a substantial loan from the energy department have largely eliminated liquidity risks.

The Stifel team is impressed by the company's second quarter order of 0.133 billion USD, the backlog orders of 0.586 billion USD as of June 30 (a 10% year-on-year increase), and the commercial pipeline of 1.38 billion USD (or 52 GWh) (a 40% year-on-year increase).

Gengaro and his team also noted that the company is increasing the automated production line in Turtle Creek, Pennsylvania to 2 GWh, which represents annual revenue potential of 0.4 billion to 0.5 billion USD.