NeoVolta eyes $11 target, Lake Street issues Buy rating after offering

Investment firm Lake Street initiated coverage on NeoVolta Inc. with a Buy rating.

The firm disclosed the rating in a research note published on June 26, 2026.

Analysts established a price target of $11.00 per share.

This target represents significant potential upside from the company's recent trading price.

The valuation applies an 11x EV/EBITDA multiple to future earnings.

Lake Street projects a 2028 calendar year EBITDA of $65 million.

NeoVolta recently priced a public offering at $2.05 per share.

The company expects to raise approximately $25 million in gross proceeds.

Management will use the funds for joint venture obligations and general working capital.