In a recently released analyst research report, AltaCorp Capital‘s Senior Equity Research Analyst covering life sciences and healthcare, David M. Kideckel, PhD, MBA, initiated coverage on shares of Organigram Holdings, Inc. (NASDAQ:OGI) (TSXV:OGI) with a buy rating and a price target that suggests some noteworthy upside on the horizon.
This analyst coverage comes just a few days after the Canadian licensed cannabis producer received organic certification from Pro-Cert Organic Systems Ltd. for its recreational cannabis plants and growing processes.
“We know that there is a significant consumer demand for organic cannabis products,” commented Greg Engel, Chief Executive Officer of Organigram. “We have been proud to offer our medical customers access to organic strains and are excited to be able to expand our offering to adult recreational consumers who value organic options.”
David Kideckel’s Organigram price target of $13.30 CAD per share implies a potential upside of approximately 36.41% based on the last traded price of $9.75 CAD per share on the TSX Venture Exchange.
Organigram also recently announced a progress report regarding its CBD-focused initiatives in Canada, noting that “it has recently shipped more than one hundred and thirty thousand units of pure cannabidiol (CBD) oil destined for markets across Canada.”
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