The Globe and Mail reports in its Wednesday, Jan. 10, edition that Haywood Securities analyst Gianluca Tucci initiated coverage of Tantalus Systems Holding with a "buy" recommendation and $2 share target. The Globe's David Leeder writes that Mr. Tucci says in a note: "Tantalus Systems Holding is a pure-play smart grid company that is modernizing the utility grid and is already supporting 285 utilities across the U.S., Canada, and the Caribbean Basin with a 99-per-cent retention rate. The company is targeting a $5.8-billion immediate TAM [total addressable market] across the utility sector by upgrading grid infrastructure to support EVs, solar panels, and distributed resource integration. Long-standing customer relationships and high barriers to entry help prioritize the company's product roadmap and align with customers' purpose. Its next-gen TRUSense Gateway should add nine figures of robust opportunity to scale from, providing the next leg of growth. Tantalus stands to benefit from infrastructural upgrades to ageing and outdated equipment -- spending on utility infrastructure and renewable energy projects in North America is expected to continue despite challenges posed by higher interest rates."