In a recently released analyst research report, Beacon Securities Managing Director of Equity Research, Russell Stanley, reiterated his buy rating on shares of multi-state U.S. cannabis operator Harvest Health & Recreation Inc. (CSE:HARV) (OTC:HRVSF) with a price target that suggests some noteworthy upside to come.
This analyst update comes on the heels of Harvest Health’s recent announcement that the company was opening its third, fourth, and fifth Florida cannabis dispensaries.
Russell Stanley’s price target of $26.00 CAD per share implies a potential upside of approximately 193.79% based on the last traded price of $8.85 CAD per share on the CSE.
According to Cantech Letter, “The analyst contends that at 10x his fiscal 2020 EBITDA estimate, HARV is now trading at a 49-per-cent discount to the 20x average across its peer group and at a 64-per-cent discount to the 29x average among cannabis companies with a plus-C$1 billion market cap.”
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