In a recently released analyst research report, Northland Securities, Inc. Managing Director and Senior Research Analyst covering Special Situations, Paul Penney, reiterated his buy rating on shares of ancillary cannabis packaging and services provider KushCo Holdings Inc. (OTC:KSHB) with a price target that suggests some noteworthy upside to come.
This updated guidance from Penney comes just after KushCo Holdings Inc. reported financial results for its second fiscal quarter of 2019, for the period that ended February 28th, 2019. Not only did net revenue increase 240% year-over-year to approximately $35 million USD, but the company also raised full-year fiscal 2019 net revenue guidance up to $140 million to $150 million.
Paul Penney’s price target of $8.75 USD per share implies a potential upside of approximately 48.81% based on the last traded price of $5.88 USD per share on the OTC markets.
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