In a recently released analyst research report, Clarus Securities analyst, Noel Atkinson, CFA, reiterated his buy rating on shares of diversified cannabis company TerrAscend Corp. (CSE:TER) (OTC:TRSSF) with a price target that suggests some noteworthy upside to come.
Just this morning, TerrAscend Corp. signed a major Canadian cannabis extraction agreement with Indiva Ltd. (TSXV:NDVA) (OTC:NDVAF) where TerrAscend will commit to delivering, on an annual basis, a minimum of 800 kg of dry flower to Indiva for extraction.
Indiva will be responsible for extraction and refinement services employing its 70-tonne ethanol extraction system and will return the final product to TerrAscend in bulk formulated oil, or in distillate form.
Noel Atkinson’s ner TER price target of $14.00 CAD per share implies a potential upside of approximately 97.18% based on the last traded price of $7.10 CAD per share on the CSE.
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