In a recently released analyst research report, Canaccord Genuity‘s Equity Research Analyst, Kimberly Hedlin, CPA, just upgraded their Speculative Buy rating on shares of Khiron Life Sciences Corp. (TSXV:KHRN) (OTC:KHRNF) with a higher price target.
The recent “transformative” joint venture between Khiron Life Sciences and Dixie Brands Inc. (CSE:DIXI.U) combined with the company’s signing of a binding LOI to acquire 100% of NettaGrowth International Inc. were just two of the catalysts pushing Hedlin’s price target higher.
Kimberly Hedlin’s new price target of $5.00 CAD per share implies a potential upside of approximately 77.30% based on the last traded price of $2.82 CAD on the TSXV.
According to the report, “We are raising our target for Khiron to C$5.00/sh from C$3.40/sh following our facility tour and the company’s JV with Dixie Brands and acquisition of NettaGro.”
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