Analysts Are Backing This Small-Cap for Major Growth!

Analyst-backed Jericho Energy Ventures (TSXV: JEV) (OTC: JROOF) has had its target price upgraded to CA$0.50 after recent growth and news momentum. This upgrade for the stock, which already has a BUY rating, means it now has a return to target of 61% at the time of writing.

Analysts appear to have doubled-down and upgraded this stock because of factors like:

A rapid flow of new customers coming on board
New intercontinental partnerships signed.
Enormous growth in the green hydrogen space, which Precedence Research has projected to soar in value from $4.02bn to $331.98bn between 2022 and 2032.

Strong Sales Performance and Growth

Atrium Research has revised its stance on Jericho Energy Ventures following some significant developments.

First Hydrogen Boiler Sales Order

Last week, Jericho disclosed its first boiler sales order, which it secured with a notable Western University, aiming to boost the University's district heating system. The hydrogen boiler system will offer will provide sustainable and low-carbon heating to the University, aiding its objectives to reduce carbon emissions while establishing a benchmark for other institutions to follow.

This collaboration represents a significant stride towards sustainable heating and a commitment to low-carbon energy. By adopting the DCC™ boiler, the University not only emphasizes its dedication to green initiatives but also supports global efforts to decarbonize district energy, especially in educational institutions.

Therefore, the University's move to adopt the DCC steam boiler is seen as a pioneering step towards sustainable heating, aligning with widespread global ambitions among Universities to slash emissions by 2030 and attain net-zero emissions by 2050. This milestone is particularly noteworthy for JEV as it positions the company as an industry trailblazer and came far sooner than analysts had predicted.

Four Country Study with International Drinks Giant

Adding to JEV's momentum, the company, on July 27th, unveiled a collaboration with a major global alcoholic beverage firm. This partnership's core objective is to study the decarbonization potential of the DCC boiler across the alcohol giant’s operations in four nations. The beverage sector's pressing need for decarbonization intersects seamlessly with the offerings of JEV and its subsidiary, Hydrogen Technologies.

Jericho’s DCC™ boilers by its subsidiary Hydrogen Technologies stand out as an efficient alternative to traditional fossil fuel boilers. Operating with an impressive efficiency of over 97%, they produce zero greenhouse gas emissions. Moreover, in 2022, the DCC™ boiler was recognized with the "Solar Impulse Efficient Solution" award for its environmentally-friendly attributes.

Additional Partnerships and Energy Sector Tailwinds

Prior to these recent announcements, Jericho Energy Ventures unveiled a strategic industrial partnership with EXOGEN Hydrogen Solutions and Sofinter Group.

In light of these developments, Atrium Research has maintained a "BUY" rating on JEV but increased its target share price from C$0.40 to C$0.50. Thereby, suggesting the potential for a further 61% upside from here.

This encouraging analyst upgrade is influenced by several factors, including recent upward movement in crude oil prices, the earlier-than-anticipated signing of JEV's first boiler contract, and increasing interest from global firms.

A Brief Overview of Jericho Energy Ventures

JEV is an energy company with a focus on both traditional hydrocarbon assets and the evolving low-carbon energy domain, especially hydrogen. Besides its recent hydrogen initiatives, the company also has longstanding operations in the oil and gas sector in Oklahoma.

Discover all you need to know about Jericho Energy Ventures in our exclusive report.

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