Roth Capital Starts AMMO, Inc. (POWW) at Buy
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Roth Capital analyst Matt Koranda initiates coverage on AMMO, Inc. (NASDAQ: POWW) with a Buy rating and a price target of $9.00.
The analyst comments "AMMO Inc. is hitting a positive inflection point in its core ammunition business, bolstered by a $180mn backlog and sustained momentum in this ammo upcycle. Moreover, our two-year ~60% revenue CAGR at core AMMO may have multiple additional sources of upside (military/law enforcement orders, commercial channel share take). Importantly, AMMO Inc.'s pending acquisition of GunBroker.com appears transformative and right on target, in our view. Initiate at Buy and $9 PT."
Shares of AMMO, Inc. closed at $7.45 yesterday.
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