In a recently released analyst research report, Canaccord Genuity Equity Research Analyst Matt Bottomley upgraded his rating on shares of geographically diversified cannabis company Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) (FRA:7C1) from sell to hold.
This upgrade to analyst guidance for the company comes after Cronos Group released results for its fiscal Q2 of 2019 yesterday, where “Cronos booked net revenue of 10.2 million Canadian dollars, which was more than three times higher than the Q2 2018 figure.”
Matt Bottomley’s new Cronos price target of $17.00 CAD per share still implies some potential downside of approximately 7.61% based on the CRON’s last traded price of $18.40 CAD per share on the TSX.
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