LQR House Announces Analyst Coverage Updates by Litchfield Hills Research Reiterating a Buy Rating and $5 Price Target

MIAMI BEACH, FL / ACCESSWIRE / November 29, 2023 / LQR House Inc. (the "Company" or "LQR House") (NASDAQ:LQR), an ecommerce platform and marketing agency specializing in the spirits and beverage industry, proudly discloses the latest analyst coverage updates by Litchfield Hills Research ("LHR"). The research firm has released an updated report reaffirming a "Buy" rating for LQR House under its three-tiered (buy-hold-sell) rating system, with a notable target price of $5.00 per share.

The comprehensive report by analyst Theodore R. O'Neill emphasizes what he deems as "game-changing transactions" within LQR House. Notable updates include the strategic acquisition of a leading online marketplace in the alcohol sector, boasting significant potential for market expansion. The report also highlights the Company's strong financial position to complete other acquisitions, with $10 million in cash reserves, and the Company's latest actions to satisfy NASDAQ listing requirements.

O'Neill's analysis positions LQR House as undervalued, noting that current assumptions for the Company's sales in 2024 at $7.25 million suggest a market cap three times larger than its current valuation. The report underlines the Company's positive trajectory, emphasizing its advantageous position with cash balance that surpasses its market capitalization, technically resulting in a negative enterprise value.

In reaction to the analyst report, Sean Dollinger, CEO of LQR House, conveyed his excitement, remarking, "The update from Theodore R. O'Neill and Litchfield Hills Research is truly refreshing. Amidst the ongoing surprises of the current market conditions, we've exhaustively explored various avenues, from engaging top-tier IR firms to fortifying our business with robust foundations. Despite these efforts, our share price has faced challenges. Witnessing an update that authentically articulates LQR's true value and underscores the positive trajectory of our company feels like a significant stride in the right direction."

Litchfield Hills Research is an independent equity research firm known for its objective research tailored for institutional investors. The firm adheres to all FINRA standards for quality and objectivity, with reports featured on 19 platforms in the US, EU, and China, and estimates on 24. LQR House has engaged LHR to ensure distribution on those platforms and for specific investor targeting. The full report is available for investors on the Litchfield Hills Research website. https://www.hillsresearch.com/current-research/

About LQR House Inc.

LQR House is a dynamic and forward-thinking e-commerce marketing company that intends to become the full-service digital marketing and brand development face of the alcoholic beverage space. Currently, LQR House has a key partnership with Country Wine & Spirits Inc. ("CWS"), granting the Company a full control over all marketing operations on CWSpirits.com, large alcohol ecommerce platform. With a deep passion for the world of beverages, LQR House takes pride in curating marketing strategies aimed to elevate brands to new heights. Composed of a team of seasoned professionals, LQR House focuses on crafting marketing solutions tailored to each client's unique needs. Through strategic partnerships, creative branding, and digital prowess, LQR House intends to be at the forefront of the wine and spirits marketing landscape, making it the go-to choice for brands seeking to thrive in a competitive industry.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Shareholders can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the registration statements on Form S-1 filed with the SEC and other filings with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statements on Form S-1 and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.

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SOURCE: LQR House Inc.

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