Why Wall Street Is Eyeing Tigo Energy, Inc. (TYGO) for Big Gains

Tigo Energy, Inc. (NASDAQ:TYGO) is among the 6 Cheap Solar Stocks to Buy Now.

Why Wall Street Is Eyeing Tigo Energy, Inc. (TYGO) for Big Gains

On March 2, Philip Shen from Roth MKM maintained a Buy rating on Tigo Energy, Inc. (NASDAQ:TYGO), while setting a price target of $5. Even with the lowest 1-year price target among analysts, the firm’s estimate reflects an upside potential of 53.33%.

Previously, on February 25, Gus Richard, an analyst at Northland, lifted the price target on Tigo Energy, Inc. (NASDAQ:TYGO) to $5.50 from $5 and reiterated an Outperform rating. According to TheFly, the firm has elevated its revenue, GAAP EPS, and EBITDA estimates following the company’s Q4 results, matching the consensus forecasts. This excludes the IP offload in the quarter, with the company paying off $50 million in convertible debt due in Q3 from cash.

On the same day, TheFly reported that the company’s fourth-quarter revenue of $30 million was in line with the consensus forecast of $30.02 million. As stated by Zvi Alon, Chairman and CEO of Tigo Energy, Inc. (NASDAQ:TYGO),

“Against the backdrop of a seasonally slower solar installation and cold weather period for our industry, we delivered strong fourth quarter results, with revenue up 73.8% compared to last year’s Q4.”

Tigo Energy, Inc. (NASDAQ:TYGO) is a California-based provider of solar and energy storage solutions. Founded in 2007, the company offers module-level power electronics, solar energy storage management, and energy demand forecasting, among other capabilities.

While we acknowledge the potential of TYGO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TYGO and that has 100x upside potential, check out our report about this cheapest AI stock.

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