Summary Highlights:
- Loop Industries secures a $1.5 million engineering services deal for its joint venture in India.
- Wall Street analysts project a significant upside potential for LOOP, with a 134.13% increase from current prices.
- The stock is rated "Outperform" with an average recommendation score of 1.7 from brokerage firms.
Loop Industries (LOOP, Financial) has strategically entered into a $1.5 million agreement dedicated to providing engineering services to its joint venture, Ester Loop Infinite Technologies, located in India. This pivotal agreement is aimed at bolstering the construction phase, with the groundbreaking for the Infinite Loop India facility slated for the latter half of 2025.
Wall Street Analysts Forecast
In the realm of financial projections, three analysts have provided one-year price targets for Loop Industries Inc (LOOP, Financial). The average target price stands at $3.93, with projections ranging from a high of $5.80 to a low of $3.00. This average price target reveals a potential upside of 134.13% from the current share price of $1.68. Investors seeking more comprehensive forecast data can visit the Loop Industries Inc (LOOP) Forecast page.
Furthermore, consensus recommendations from three brokerage firms position Loop Industries Inc (LOOP, Financial) with an average recommendation score of 1.7, indicative of an "Outperform" status. On this rating scale, 1 represents a Strong Buy, while 5 suggests a Sell. This noteworthy rating underscores the optimism surrounding LOOP's potential performance in the market.
