Taglich Brothers initiates coverage of KULR Technology with Speculative Buy rating and 12-month price target of $2.50

Taglich Brothers Inc has initiated coverage of KULR Technology Group Inc (OTCMKTS:KULR), arguing the California company “is well-positioned for strong growth” as the shift to electric vehicles and 5G technology should fuel demand for its products.   As a result, the New York-based analyst firm is starting with a Speculative Buy rating and a 12-month price target of $2.50 a share. The stock currently trades around $1.36 a share.  KULR is a pioneer in thermal management technology and battery safety (prevent/halt lithium-ion fires), built upon its carbon fiber thermal interface material that was developed with help from NASA. Its technology is currently in use on Mars Perseverance Rover, the International Space Station, and the Mercury Messenger project. READ: KULR boosts cash balance in 3Q, expects tailwind for its products as US adopts clean energy, EVs, battery cycling “The opportunities for the company’s products include industries such as electric motor vehicles that have become increasingly more reliant on Cloud computing, portability, and high-demand processing power,” wrote analyst John Nobile.  “KULR’s high-performance thermal interface materials can also be used to accelerate 5G communications development due to their high thermal conductivity, light weight, and low contact pressure.”   While space and aviation comprise a large part of KULR’s focus and development, the company in recent months has been moving to tap into the potentially lucrative and game-changing EV market.     KULR will supply its carbon fiber thermal interface material to Drako Motors, a Silicon Valley manufacturer of the high-performance electric supercar Drako GTE. Drako Motors will utilize KULR’s made-for-space technology as part of the thermal management system in the luxury Drako GTE, which carries a 1,200 horsepower quad motor that can hit 206 mph.  The company also is moving into the smartphone market by striking a legally binding memorandum of understanding with a global electronics component and battery manufacturer that supplies components for Apple's iPhone and other smartphones. The parties plan to pursue business relationships building on KULR's ISC battery testing technology. KULR also can license its TRS technology to its new partner in a commercial phase. According to MarketsandMarkets, Nobile wrote, the EV market is projected to reach about 27 million units by 2030 from an estimated 3.3 million units in 2019 for annualized growth of 21.1%. And Grandview Research projects the global 5G services market size is estimated to reach $41.5 billion by 2020 and expand at annualized growth of 43.9% from 2021 to 2027.  Contact the author: patrick@proactiveinvestors.com Follow him on Twitter @PatrickMGraham