Roth Capital Starts Alico Inc. (ALCO) at Buy

Roth Capital analyst Gerry Sweeney initiates coverage on Alico Inc. (NASDAQ: ALCO) with a Buy rating and a price target of $40.00.

The analyst comments "We initiate ALCO with a Buy rating and $40 target. ALCO is a leading grower of oranges for the not-from-concentrate juice market. We believe the company is poised for a multi-year improvement in revenue and profitability driven by anticipated lower imports, new contracts, increased plantings and the completion of its modernization program. We estimate a rebound in pricing to median levels and increased boxes harvested can lift estimated EBITDA from $18.9mm in F2020 to $47.2mm in F2023."

For an analyst ratings summary and ratings history on Alico Inc. click here. For more ratings news on Alico Inc. click here.

Shares of Alico Inc. closed at $31.22 yesterday.

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