First Berlin Equity Research has published a research update on urban-gro, Inc. (ISIN: US91704K2024). Analyst Ellis Acklin reiterated his BUY rating and maintained his USD 4.30 price target.

Abstract
urban-gro (UG) recently inked a multitude of contracts for an aggregate value of some $12m. While the overall value may not be eye-popping, the number of cannabis clients (>12) is noteworthy. The sector has been largely idling since the pandemic with investments having ground to halt. This may be changing now. In May, the DOJ (Department of Justice) officially proposed to reclassify marijuana from a Schedule 1 to Schedule 3 marking a historic shift in US policy. Plus, recent polls show Florida voters are in favour of legalising recreational use which would open up a massive market. The latest contracts represent the most quarterly cannabis action UG has had in over two years, and we think these will lead to more follow up equipment and construction deals going forward. We are Buy-rated on UG with an unchanged $4.3 TP.