- EF Hutton analyst Michael Albanese initiated coverage on American Rebel Holdings Inc (NASDAQ:AREB) with a Buy rating with a price target of $1.50.
- The analyst said the company's recent acquisition of Champion Safe in July was a good deal.
- Champion Safe is a premier safe designer/manufacturer run by Ray Crosby, who has been in the safe business for more than forty years.
- Also Read: American Rebel Raises $13M Via Equity Offering
- The Champion acquisition brings on three new high quality safe lines and adds two new factories. It also provides strategic cost benefits to its supply chain, allowing the company to provide top-tier quality safes at mid-line prices.
- While primarily known for its safe business, American Rebel is evolving into a brand platform with which it intends to build multiple revenue streams.
- Related: "E-Bike With An Attitude" - American Rebel To Enter E-Bike Business In Collaboration With Sierra E-Life
- The analyst sees strong tailwinds from the firearms and cannabis industries.
- The analyst added that an expanding number of firearms in circulation calls for increasing availability of proper storage, particularly in the face of heightened regulatory scrutiny.
- Also, the high-risk nature of the cannabis industry, the lack of banking services, and the sensitivity regarding the storage of both the product and significant amounts of cash have driven demand from cannabis dispensaries to purchase safes, cited Albanese.
- Albanese notes the company's Mexico facility, acquired through the acquisition of Champion, provides a strategic advantage.
- Price Action: AREB shares are trading higher by 4.29% at $0.3650 on the last check Monday.
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