GrowGeneration price target lowered to $2.50 from $4 at Alliance Global Partners

Alliance Global Partners analyst Aaron Grey lowered the firm’s price target on GrowGeneration to $2.50 from $4 and keeps a Neutral rating on the shares after the company reported an in-line sales quarter with a slight EBITDA beat. The firm’s lower target reflects a lower multiple as a function of the continued slowdown of the hydroponics sector with lower capex spending and build-outs from cannabis operators.