Freedom Broker analyst Matvey Tayts upgraded Genie Energy Ltd. (NYSE: GNE) from Hold to Buy with a price target of $16.00.

The analyst comments "Genie Energy reported weak Q1’26 results: while revenue and gross profit were ahead of our estimates, sharply higher SG&A drove a significant miss on operating income, EPS and adj. EBITDA versus our model, and a meaningful deterioration versus the prior year.However, the deeper weakness at the operating income level relative to the decline in gross profit primarily reflects aggressive customer acquisition spending, which we expect to support growth and benefit financial performance in the coming quarters. We have also updated our model by revising commodity price assumptions in line with the latest EIA STEO outlook, which now implies a softer natural gas price environment and, therefore, better margin prospects into 2027. Following the recent correction in the share price, we upgrade our rating on the stock to Buy from Hold and leave our DCF-based price target unchanged at $16 per share."

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Shares of Genie Energy Ltd. closed at $13.05 yesterday.