In a recently released analyst research report, Canaccord Genuity‘s Equity Research Analyst, Kimberly Hedlin, just initiated coverage on shares of MediPharm Labs Corp. (TSXV:LABS) (OTC:MLCPF) with a “Speculative Buy” rating and a sky-high price target.
Kimberly Hedlin’s new price target of $4.75 CAD per share implies a potential upside of approximately 74.63% based on the last traded price of $2.72 CAD on the TSXV.
Possible reasons for such a high price target include the company’s recently announced listing of shares on the Frankfurt Borse to increase liquidity and A.M. trading.
According to MediPharm’s announcement this morning, “its common shares are now listed on the Frankfurt Stock Exchange (FSE) trading under the ticker symbol “MLZ”. The Company continues to be listed on the Toronto Stock Exchange Venture (TSXV) under the ticker symbol “LABS” and on the OTC in the U.S. under the ticker symbol “MLCPF.””
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