- EF Hutton analyst Ben Piggott initiated coverage on AgriFORCE Growing Systems Ltd 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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