Roth Capital Starts The Alkaline Water Co. (WTER) at Buy
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Roth Capital initiates coverage on The Alkaline Water Co. (NASDAQ: WTER) with a Buy rating and a price target of $3.50.
The analyst comments "We initiate WTER, a leading value added water supplier, with a Buy rating and $3.50 price target. Shares should benefit from: 1) Visible, accelerating distribution, including large, underpenetrated channels (convenience stores, hospitality) and markets (Northeast); 2) strong underlying functional water category growth driven by health and wellness consumer trends; 3) SKU augmentation, driven by flavor infused alkaline water/aluminum innovation; 4) new CBD launch, accelerated by "88's" proven brand and built mass distribution and; 5) valuation ~4 turns blow peers."
Shares of The Alkaline Water Co. closed at $1.37 yesterday.
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