Lake Street Capital Markets Analyst Mark Smith initiated coverage of GrowGeneration Corp. with a BUY rating and price target of $6.50 (GRWG $3.86). GrowGeneration offers horticultural, organics, and lighting and hydroponics products, including lighting fixtures, nutrients, seeds and growing media, systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools. The company also operates an online superstore, HeavyGardens.com for cultivators. The company serves commercial and urban cultivators growing specialty crops, including organics, greens, and plant-based medicines.
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