Maxim analyst Anthony Vendetti lowered the firm's price target on Edible Garden to $1, with adjustment for 1:10 reverse split, from $80. The firm also keeps a Buy rating on the shares. The company is transitioning from controlled environment agriculture and fresh herbs toward a ready-to-drink protein/nutrition platform, which the firm views favorably, though its price target is reduced to reflect equity dilution and execution risk, the analyst tells investors in a research note.
