- H.C. Wainwright analysts Amit Dayal and Sameer Joshi maintained a Buy rating on ClearSign Technologies Corp (NASDAQ:CLIR) with a price target of $6.00 post Q4 (300% upside).
- The analysts believe that ClearSign's products continue to attract customers thanks to the recent win for 20 process burners in California.
- Further, management suggests that the relationship with sales and distribution partners Zeeco and California Boiler continues to strengthen.
- As customer interest remains high, the analysts saw ClearSign winning orders for its 500hp fire tube burner in California.
- Management remains optimistic about delivering the 16-unit process burner order from a Midwest refiner.
- Contract wins in China remain vital to the story as it continues to develop strategic relations in the market.
- The analysts saw revenues of $2.1 million in 2022, $6.1 million in 2023, and $199.0 million in 2030, at a seven-year CAGR of 64.3%.
- Price Action: CLIR shares traded higher by 2% at $1.53 in the premarket on the last check Friday.
