share_log

Read Why EF Hutton Sees Huge Upside In This AgTech Company

Benzinga Real-time News ·  Jul 12, 2022 13:30
  • EF Hutton analyst Ben Piggott initiated coverage on AgriFORCE Growing Systems Ltd (NASDAQ:AGRI) with a Buy rating and a price target of $5 (143% upside).
  • The analyst believes AgriFORCE has an impressive acquisition pipeline to build a premiere agriculture technology company.
  • Piggott is optimistic about the company's proposed take over of Delphy, which he says will serve as the cornerstone of a nascent consulting franchise.
  • The analyst added AgriFORCE will need to raise additional capital for the Deroose acquisition, which will lead to either an increased share count, additional balance sheet leverage, or a combination of the two.
  • With the recently availed convertible debt facility, the company looks well-financed to close the Delphy transaction.
  • Price Action: AGRI shares are trading lower by 3.76% at $2.05 on the last check Tuesday.
Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment