GrowGeneration price target lowered to $2.25 from $2.75 at Alliance Global Partners

Alliance Global Partners analyst Aaron Grey lowered the firm’s price target on GrowGeneration to $2.25 from $2.75 and keeps a Neutral rating on the shares after the company announced Q2 results and announced a restructuring that is expected to provide about $12M in cost savings over the next 12 months. These initiatives should help with margins and cash flow as the company awaits sales catalysts occurring from industry shakeout and rescheduling, which could cause cultivators to reinvest in their businesses with the removal of the 280E tax, the analyst tells investors.