- 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.
Stellantis Braces For Workforce Shake-Up: 539 Firings In America And 2,250 Temporary Layoffs In Italy
The layoffs in Italy— a result of weak demand — are set to begin on Feb. 12 and continue till March 3, Reuters reported.
