Whether you’re an existing or prospective investor in The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTC:TGODF) it can be nice to get a Wall Street analyst’s opinion on where they think things are headed. Even better than one analyst’s opinion is four analysts’ opinions. This is especially useful guidance given some of the recent catalysts pushing shares of the international cannabis producer up over 80% on a year-to-date basis.
Most recently, the Hamilton City Council voted to allow TGOD to operate its cannabis greenhouse in Ancaster, Ontario. Just days prior, The Green Organic Dutchman kicked off sales and shipments of certified-organic cannabis to medical marijuana patients.
Do Analyst Opinions Even Matter?
Analysts have been around as long as stocks, but they’ve never been as influential as today. Given how quickly information passes through the investor ecosystem, one analyst’s update can send a company’s shares tumbling or soaring.
Analysts aren’t just market-moving, though. They’re also highly qualified investment professionals that have devoted years to studying business and investments to earn designations like CFA or CPA. Their knowledge combined with their unparalleled access to company executives and information means analyst updates are always worth reading.
When it comes to marijuana stocks, it is no different.
What Analysts Think of TGOD
Currently, there are a total of four Wall Street analysts covering shares of TGOD. In the last month, all of them have provided guidance on what to expect.
From lowest price target to highest price target, here’s where analysts think shares of TGOD are heading:
$5.00 CAD Per Share – Canaccord Genuity
$6.10 CAD Per Share – Jefferies
$7.60 CAD Per Share – Fundamental Research Corp.
$10.00 CAD Per Share – Seaport Global
Combining the four analyst price targets above, we can see an average analyst price target of $7.175 CAD per share. Based on a last-traded price of $4.82 CAD per share on the TSX, that represents 48.86% of potential upside for shares of TGOD.
When it comes to analyst opinions, however, the price target isn’t even half of it. All analyst price targets are subject to change, and most analysts update their outlooks and price targets often.
What really matters is why and how each analyst arrived that their price targets. That helps us better determine the catalysts that can propel Canopy Rivers to success as well as the risks that the company may face before reaching its full potential.
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