Roth Capital analyst Gerry Sweeney raised the firm’s price target on Alico (ALCO) to $42 from $35 and keeps a Buy rating on the shares. Alico continues to transition from orange production to real estate development, the analyst tells investors in a research note. The firm’s price target reflects total projected value of Alico assets of $700M less projected cash burn discounted back to current time period, Roth adds.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALCO:
- Alico, Inc. Reports Strategic Transformation and Financial Results
- Closing Bell Movers: Zoom up 4% on earnings beat
- Alico reports Q4 EPS ($1.11) vs. ($2.38) last year
- ALCO Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Alico partners with FDOT to construct wildlife underpass on State Road 82