In a recently released analyst research report, BMO Capital Markets equity research analyst, Tamy Chen, CFA, upgraded her rating on shares of Canadian licensed producer CannTrust Holdings Inc. (NYSE:CTST) (TSX:TRST) to Outperform with a price target that suggests some noteworthy upside to come.
This analyst update comes just a few days before CannTrust Chief Executive Officer Peter Aceto is expected to participate in a panel discussion session called “The Northern Invasion: How Canada Can Capitalize on U.S. Legalization” at the upcoming 2019 Lift & Co. Cannabis Business Conference in Toronto.
Tamy Chen’s price target of $11.00 CAD per share implies a potential upside of approximately 59.42% based on the last traded price of $6.90 CAD per share on the Toronto Stock Exchange.
According to SmarterAnalyst.com, “The analyst believes CannTrust is now at or near full-scale production capacity of 50,000 kilograms of marijuana per year, a rate of production which would put the company in third place for Canadian pot production, behind only Canopy Growth (CGC) and Aurora Cannabis (ACB).”
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