Baird Sees 18% Upside In This Bill Gates-Backed Battery Maker - ESS Tech (NYSE:GWH)

Baird analyst George Gianarikas initiated ESS Tech Inc. GWH with an Outperform rating and a price target of $15, implying an upside of 17.6%. ESS Tech manufactures long-duration batteries for commercial and utility-scale energy storage applications.
Given energy storage's ability to remedy weaknesses inherent in renewable energy production, the utility-scale storage market is set for outsized growth and long-duration energy storage has the potential to accelerate market growth as it addresses the need for continuous power over extended periods.
In this context, ESS's iron flow solution "could prove differentiated, scalable, and economic," mentions Gianarikas.
He also recognizes operational, manufacturing, and general execution risks and a heightened competitive environment.
Price Action: GWH shares are trading higher by 3.24% at $12.76 on the last check Wednesday.