 Cowen analyst Thomas Boyes initiated PureCycle Technologies Inc NASDAQ:PCT with an Outperform rating and a price target of 31, implying an upside of 138.65. Boyes mentions that PureCycles patent-protected polypropylene recycling technology is highly differentiated as it produces near virgin-like plastic resin that can be used in higher-value applications than those made by traditional recyclers, giving them a first-mover advantage in a large and growing market. 