Equity Research Focusing on the Consumer Sector, Small Cap Consumer Research

Small Cap Consumer Research

Equity research on small cap consumer names.

Equity Research Focusing on the Consumer Sector

Small Cap Consumer Research, LLC is a leading company-sponsored equity research provider focusing on the consumer sector (apparel, brand licensing and specialty retailing segments).

Equity Bottom-Up

<ul><li>We are reiterating our Buy rating, $8 price target and slightly tweaking our projections after urban-gro, as part of their engagement with a new accounting firm, announced a restatement of historic results, driven by deferred tax liabilities.</li><li>We note the restatement will have no material impact on historic Revenue, Adjusted EBITDA and cash flows.</li><li>That said, we now do not expect the company to announce 2Q24 results now before October.</li></ul>

We are reiterating our Buy rating, $8 price target and slightly tweaking our projections after urban-gro, as part of their engagement with a new accounting firm, announced a restatement of historic results, driven by deferred tax liabilities.We note the restatement will have no material impact on historic Revenue, Adjusted EBITDA and cash flows.That said, we now do not expect the company to announce 2Q24 results now before October.

UGRO: View 2Q Delay, Restatement as Immaterial; Setting up 3Q, Reiterate Buy

Urban-Gro

UGRO: View 2Q Delay, Restatement as Immaterial; Setting up 3Q, Reiterate Buy