- Oppenheimer analyst Colin Rusch initiated coverage of Local Bounti Corp (NYSE:LOCL) with an Outperform rating and $11 price target, implying an 84.6% upside.
- The analyst viewed Local Bounti's unique hybrid configuration as a critical success factor in enabling best-in-class unit economics.
- Rusch added that he believes Local's seasoned leadership team and design for unit economics position it well to success in this capital-intensive industry.
- Roth Capital analyst Brian Wright initiated coverage of Local Bounti with a Buy rating and $8 price target, suggesting a 34.2% upside.
- Wright notes controlled environmental agriculture will "revolutionize the consumer's experience" with leafy greens.
- Local Bounti is a premier controlled environment agriculture company. Its business model is based on building local facilities, operated by local teams, to deliver fresh and quality produce to local communities while maintaining a limited carbon footprint.
- Price Action: LOCL shares closed lower by 6.37% at $6.03 on Tuesday.
