Upexi price target lowered to $5 from $7 at Alliance Global Partners

Alliance Global Partners analyst Aaron Grey lowered the firm’s price target on Upexi to $5 from $7 and keeps a Buy rating on the shares after the company disclosed that Bloomios breached its obligations under the agreement by failing to make payments on its senior secured debt. While the default by Bloomios puts additional pressure on Upex’s own operations to meet near-term debt obligations, the recent pullback in shares, “which appears heavily tied to Bloomios, has been overblown,” the analyst tells investors in a research note.