- 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.
Don Lemon-Pepper? Rick Ross Trolls Fired CNN Host, Offers Him A Job At Wingstop
CNN and Don Lemon parted ways earlier this week after more than 10 years, but it looks like the former host won’t have to stay unemployed for long.
