Alliance Global Partners analyst Aaron Grey lowered the firm’s price target on GrowGeneration (GRWG) to $1.25 from $1.75 and keeps a Neutral rating on the shares. GrowGeneration’s Q4 sales were within its preliminary sales range, though EBITDA was worse than expected due to a lower gross margin from an intentional reduction in inventory, the analyst tells investors in a research note. While the company has also stabilized its store footprint and ceased the strategic alternative initiative for the potential sale of MMI Agriculture, Alliance Global awaits a better line of sight to profitability improvement.
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Read More on GRWG:
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- GrowGeneration reports Q4 EPS (39c) vs (44c) last year
- GrowGeneration sees FY25 revenue $170M-$180M, consensus $185.18Mv
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