In a recently released analyst research report, Canaccord Genuity‘s Equity Research Analyst, Matt Bottomley, just reiterated his “Speculative Buy” rating on shares of Harvest Health & Recreation Inc. (CSE:HARV) (OTC:HRVSF) with a higher price target.
Moved up from $15 CAD per share, Matt Bottomley’s new price target of $16 CAD per share implies a potential upside of approximately 49.67% based on the last traded price of $10.69 CAD on the CSE.
Catalysts for the raised price target include the company’s recent agreement to acquire California-based Falcon International Corp. Harvest Health & Recreation Inc. Executive Chairman Jason Vedad said that the acquisition of Falcon provides a “home” for Harvest’s manufacturing and distribution businesses throughout California.
According to Benzinga, “A key focus on the announcement centered on Falcon’s access to over 80 percent of California’s storefronts, providing Harvest with ample opportunity to expand its brand across the state.”
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