In a recently released analyst research report, Beacon Securities Managing Director of Equity Research, Russell Stanley, reiterated his buy rating on shares of Canadian licensed cannabis producer CannTrust Holdings Inc. (NYSE:CTST) (TSX:TRST) with a price target that suggests some noteworthy upside to come.
This update comes just a few hours after CannTrust Holdings Inc. released its financial results for the first quarter ended March 31st, 2019.
Russell Stanley’s price target of $15.00 CAD per share implies a potential upside of approximately 77.51% based on the last traded price of $8.45 CAD per share on the TSX. This price target is the same as his previous price target guidance announced in April.
According to Cantech Letter, “Stanley says he views the Q1 results to be solid, with the $16.9 million in revenue coming in-line with his estimate as well as the consensus, while the $4 million EBITDA loss was better than his $6 million estimate and the Street’s $7 million. The analyst adds, however, that EBITDA was impacted by changes to the company’s accounting policy absent which the number would have been closer to $7 million.”
Be sure to subscribe to updates here so you never miss an important development.
Get Real-Time Updates from MJobserver.com