$TTCF Valuation relative to BYND, LSF, and VITL would put us well above $26 right now today. A valuation of TTCF's growth relative to these other stocks in the same space would put us between $38-$46 right now, today. Roth Capital's George Kelly is the first analyst out on a new stock so he is being overly conservative. Price targets are coming from other analysts that will easily be into the $30s... which is still too low. A price target being for 12 months out into the future, the growth at TTCF will have this stock trading above $26 in the near term. Another factor that will lift TTCF to a premium above its fair valuation is its status as an M&A target. Young, rapidly growing companies with near zero debt, profitability, and a soon to be household brand name are obvious M&A targets. This will command a premium in the market easily into the $30s. Kelly got the Buy part of his coverage correct, he is too conservative on his price target. The market will correct this mistake.
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