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Today’s feature company is Kaival (ki-val) Brands Innovations Group (NASDAQ:KAVL), a company focused on incubating innovative and profitable adult-focused products into mature and dominant brands, with a current focus on the distribution of electronic nicotine delivery systems (ENDS) also known as “e-cigarettes”.
The company is the exclusive U.S. distributor of all products manufactured by Bidi Vapor, LLC, which are fully compliant with all current FDA regulations.
Eric Mosser, President & CEO, and Stephen Sheriff, Chief Operating Officer, have joined us today to discuss the company, its history, products, and more importantly its future.
According to Statista, the global E-Cigarettes market is projected to generate revenue of US$24.6 billion in 2023, with the United States estimated at US$8.3 billion.
Harbinger Research recently issued an updated research report, giving the company a strong buy rating and a 12-month price target of $1.80 per share, a premium of 386% over the $0.37 price on October 9th, the date the report was released.
Senior Research Analyst Brian Connell, CFA, stated: “The company survived a very difficult business downturn in 2021 through early 2023 and is now poised for accelerating growth. We believe its recent announcements regarding adding 1,500 new Circle K locations cements our thesis of accelerating growth during CY 2024 and beyond. We expect additional announcements regarding new, larger customers shipments during the coming quarters. We also expect to see Kaival’s royalty receipts reach seven figures next fiscal year.”
The shares are trading at $0.23.
For more information, please visit the company’s website, www.KaivalBrands.com. For investor relations, please visit www.ir.KaivalBrands.com.
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