before sufferings a 40% selloff.
Stifel has now initiated the stock with A buy RATING & $22 target
7&20ma's have crossed bullishly.
Potential targets $16.95 - $18.00
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Stifel analyst W. Andrew Carter initiated coverage of GrowGeneration with a Buy rating and $22 price target. The shares are currently undervaluing the company's "differentiated growth profile" as the leading specialty retailer of hydroponics, the potential value creation from the ongoing roll-up opportunity, and the scarcity value of pure-play investable opportunities for capitalizing on the growth of the U.S. cannabis category, Carter tells investors in a research note. The analyst estimates GrowGeneration can post 55% annual revenue growth through fiscal 2022.
Source theFly