NuZee initiated with a Buy at Maxim

Maxim analyst Matthew Galinko initiated coverage of NuZee with a Buy rating and $24 price target. The coffee company, which co-packs for roasters and develops products under a licensed brand for distribution into various channels, is broadening its focus and the expected launch of Stone Brewing branded coffee products in the September, or fiscal fourth, quarter should accelerate revenue growth, the analyst tells investors. Maxim expects “at least” 100% growth in FY24 and FY25, the analyst added.