Fundamental Research Initiates Coverage on Input Capital with a Buy Recommendation - Video Research Alert on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - August 9, 2013) - Fundamental Research has initiated coverage on Input Capital, which recently went public on the TSX Venture Exchange (TSXV: INP), by way of a reverse takeover of WB II Acquisition Corp., a Capital Pool Company. Analyst Siddharth Rajeev gives the company a speculative buy recommendation and a 12 month target of $3.00, a premium of 71% to the $1.75 price the day the report was issued.
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Input Capital is the world's first agricultural commodity streaming company, similar in structure to those streaming companies active in the metals industry.
Input Capital advances funds to farm operators, and in return receives the right to purchase a set amount of tonnage of the crop produced every year, at a low fixed price, usually for 5 to 7 years.
The company may also purchase additional tonnage from farm operators based on the farmer's annual yield performance.
The current focus is on canola, which is Canada's largest crop by revenue, and the company currently has 9 canola streams with farmers in the province of Saskatchewan.
Input does not take any operational control over the farms, and has no exposure to operating or capital cost overruns, with exposure to crop yield volatility protected through crop insurance. The primary risk to Input is their exposure to canola prices.
Input offers farm operators many benefits over traditional agriculture financing, including longer terms and flexibility in structure.
"The growth of our assets and the acceptance of Input by western Canadian farmers since the Input's inception demonstrates that our unique business model is a welcome form of alternative financing to the agricultural sector," Doug Emsley, Chairman, President and CEO of Input Capital Corp. stated. "Input's public listing is a critical milestone in fulfilling our commitment to consolidating and building the Input's leadership position in the agriculture commodity streaming business."
The company's management has extensive experience in the agricultural industry, having operated three canola investment funds, and currently operating the Assiniboia farmland fund.
Input Capital shares currently trade at $1.79, well below the $3.00 target price, and with 35.6 million shares outstanding, the company is capitalized at $63.7 million. For more information, please visit the company's website at www.InputCapital.com, or contact Doug Emsley at 306-347-1024 or email email@example.com.
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Barry Morgan, CFO