In a recently released analyst research report, Oppenheimer & Co. analyst Rupesh Parikh initiated coverage on shares of Canadian licensed cannabis producer Organigram Holdings, Inc. (TSX:OGI) (NASDAQ:OGI) with a Perform rating and guidance that suggests strength in the stock.
Organigram Holdings has a last traded price of $5.00 USD per share, up approximately $0.06 from Friday’s close, in the NASDAQ pre-market session.
According to TheFly, “The analyst says that early success in the Canadian market, coupled with above-peer financial delivery, gives him confidence in the company’s ability to further ramp from here. However, Parikh sees a muted outlook for the shares near-term given ongoing industry headwinds, elevated Street forecasts, and increased risks associated with the advanced products launch, especially with recent adverse press on vaping.”
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