In a recently released analyst research report, GMP Securities Healthcare Equity Research Analyst, Robert Fagan, CFA, initiated coverage on shares of Curaleaf Holdings Inc. (CSE:CURA) (OTC:CURLF) with a bullish buy rating and a frothy price target that suggests shares of Curaleaf may double from here.
This analyst update comes just a few days after Compass Point Managing Director and Senior Research Analyst Rommel Dionisio initiated coverage on Curaleaf with a price target of just $13.00 USD per share, equivalent to $17.14 CAD per share at current exchange rates.
“In an industry characterized by a highly fragmented brand landscape, Select stands out as the clear leader with an estimated ~$270 million in cumulative retail sales as of 2018 as per BDS Analytics data. This positions Select’s retail sell- through ~40 per cent–50 per cent ahead of the next closest competitor O.penVape (Slang Worldwide) with ~$185 million in cumulative retail sales, and in a different league than the vast majority of other significant US cannabis brands with total sales in the ~$50 million range as per BDS,” said Fagan.
Robert Fagan’s sky-high price target of $23.00 CAD per share implies a potential upside of approximately 135.17% based on the last traded price of $9.78 CAD per share on the CSE.
In USD, according to Cantech Letter, “The analyst is now calling for 2019 consolidated reported sales of $300.2 million (was $321.9 million) and EBITDA of $90.5 million (was $112.5 million).”
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