Maxim starts Healthy Choice Wellness at Buy on rising organic grocery footprint

Maxim initiated coverage of Healthy Choice Wellness (HCWC) with a Buy rating and $2 price target The company is building a portfolio of healthy grocery stores with “local roots”, the analyst tells investors in a research note, also estimating that its portfolio should also increase through the acquisition of up to four retail grocery subsidiaries per year. Maxim adds that there are approximately 5.6K independent natural and organic grocery stores in the U.S., and the domestic organic food market is expected to reach $256B by 2034, up from $88B in 2024.