UPDATE: Oppenheimer Starts AquaBounty Technologies (AQB) at Outperform
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(Updated - June 30, 2021 4:14 PM EDT)
Oppenheimer initiates coverage on AquaBounty Technologies (NASDAQ: AQB) with a Outperform rating and a price target of $7.00.
The analyst comments "We are initiating coverage on AquaBounty (AQB) with an Outperform rating and $7 PT. We view AQB as a leading player in the expanding land-based aquaculture market, with genetic IP enabling industry-leading unit economics. Having recently announced its next US facility and ramping harvest of its first commercial AquAdvatage salmon (AAS), we see AQB’s business positioned to inflect. With market interest in land-based aquaculture rapidly increasing, there are few proven operators with public currency. We view AQB in the pole position as it transitions from building its foundation to product delivery and scaling its operations. A long-term technology and execution play, we believe operational excellence will be key to determining success and could see AQB as a potential acquirer as it scales its operations globally."
Shares of AquaBounty Technologies closed at $5.67 yesterday.
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