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Read Why EF Hutton Sees Huge Upside In This AgTech Company

EF Hutton analyst Ben Piggott initiated coverage on AgriFORCE Growing Systems Ltd (NASDAQ:AGRI) with a Buy rating and a price target of…
byShivani Kumaresan
July 12, 2022
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  • 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.
 
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