Reuben Garner, an analyst from Benchmark Co., maintained the Buy rating on FGI Industries Ltd (FGI – Research Report). The associated price target is $2.00.
Reuben Garner’s rating is based on the solid performance of FGI Industries in the fourth quarter of 2024, where the company experienced significant revenue growth across all segments and geographies. Despite the aggressive growth investments impacting profitability, the company’s strategic initiatives have successfully driven revenue increases, particularly in the Bath Furniture and Other/Cabinetry segments. This growth strategy has allowed FGI to outpace the broader market, showcasing its potential for continued expansion.
Furthermore, FGI’s proactive approach to managing tariff impacts by diversifying sourcing and adjusting pricing strategies demonstrates its commitment to maintaining business stability. While macroeconomic challenges and tariff uncertainties remain, the company’s ability to adapt and implement strategic measures positions it well for future growth. These factors collectively contribute to Garner’s decision to maintain a Buy rating for FGI Industries, albeit with a revised price target.
In another report released on March 31, Northland Securities also maintained a Buy rating on the stock with a $2.50 price target.
FGI’s price has also changed moderately for the past six months – from $0.763 to $0.590, which is a -22.67% drop .