Taglich Brothers' John Nobile just initiated coverage and assigned a 'buy' rating on shares of Solis Tek, Inc. (OTC:SLTK) alongside a twelve-month price target of $3.00 per share.
With a last trade price of $1.41 for shares of Solis Tek on the OTC markets, this price target represents over 100% potential upside. Nobile's thesis is based on a few main facts and figures including the growth of the recreational and medicinal cannabis cultivation industries.
Nobile wrote, "We believe that as cannabis growers expand their use of SLTK’s lighting products (including a new lighting controller product), and begin to purchase the company’s nutrient product Terpenez, the company is well positioned to capitalize on the expanding legalization of cannabis in the US and should be able to increase its market penetration through our forecast horizon."
For the full 18-page SLTK research report, click here.
To be clear, all research issued by Taglich Brothers, Inc. is based on public information. Solis Tek paid a fee of $4,500 in September 2017 for the creation and dissemination of research reports for the first three months. After the first three months from initial publication, the company will pay a monthly monetary fee of $1,500 to Taglich Brothers, Inc., for a minimum of six months for the creation and dissemination of research reports.
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