SBEV - Splash Beverage Group could triple in share price - Roth MKM

2023-06-27 09:15:40 ET

Roth MKM started off coverage on Splash Beverage Group ( NYSE: SBEV ) on Tuesday with a Buy rating.

Analyst Sean McGowan noted that while Splash's ( SBEV ) current portfolio of brands currently includes tequila, wine/sangria, and sports drinks - the firm expects the portfolio to grow through internal expansion and potential acquisitions. Of note, the current portfolio today consists of only four brands (TapouT hydration drink, Copa di Vino single serve wine, Pulpoloco sangria, and SALT brand of flavored tequila).

Splash Beverage ( SBEV ) is also said to have a management team with extensive experience building and managing global beverage brands. McGowan thinks that gives Splash the distribution muscle of a much larger company .Roth MKM forecasts SBEV to see nearly 60% revenue growth in the coming years and achieve positive EBITDA by 2025. Using a sum-of-the-parts valuation method, Roth MKM comes up with a 12-month price target of $3.00 or about 300% above the current share price.

Shares of Splash Beverage ( SBEV ) shot up 4.12% in premarket trading to $1.01.

More on Splash Beverage Group:

• Growth metrics on Splash Beverage Group
• Recent options trades on Splash Beverage Group
• Seeking Alpha's Quant Rating for Splash Beverage Group

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