Shares of this hookah maker could rally 50%, says Roth. Here's why
This hookah producer is is quietly building a niche but mighty corner in the tobacco industry.
TL;DR
- Roth Capital initiated coverage on Air Global with a buy rating and a $11.50 price target.
- Air Global is expected to leverage its brand and cash flow to expand into flavored vapes and nicotine pouches.
- The company's shisha business provides cash flow for investment in higher-growth opportunities.
- Air Global has invested in Greentank, a vaporization hardware and technology company, and OOKA, an electronic hookah device.
- Air Global's shisha volume grew 0.4% annually from 2018-2025, contrasting with a 6% annual decline for U.S. cigarettes.
- Roth Capital views Air Global's regulatory positioning as favorable, despite some state-level smoking laws.