In a recently released analyst research report, GMP Securities‘ Managing Director of Equity Research for Special Situations and Healthcare, Martin Landry, just initiated coverage on shares of Valens GroWorks Corp. (CSE:VGW) (OTC:VGWCF) with a buy recommendation and juicy target.
This analyst coverage comes just over a week after Valens GroWorks presented at the Spring Investor Summit to an audience of approximately 1200 institutional and retail investors. That being said, it also comes just days after Valens raised $43,125,000 CAD through a bought deal financing round in which GMP Securities was an underwriter.
Martin Landry’s price target of $8.00 CAD per share implies a potential upside of approximately 127.92% based on the last traded price of $3.51 CAD on the CSE. That price target implies an even larger upside when compared to the recent financing round’s price of $2.95 CAD per unit.
According to Cantech Letter, “The analyst thinks Valens is at a hefty discount to its peers, estimating that VGW trades at 4.9x his calendar 2020 EBITDA estimate versus the cannabis sector which trades at about 20x calendar 2020 EBITDA.”
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