In a recently released analyst research report, Cowen & Co. Managing Director and Senior Research Analyst covering beverages, tobacco, and cannabis, Vivien Azer, reiterated her buy rating on shares of Greenlane Holdings Inc. (NASDAQ:GNLN) with a price target that suggests some noteworthy upside to come.
This bullish guidance comes on the heels of the news that San Francisco is set to ban e-cigarettes in the city. According to the company’s IPO filings, e-cigarette sales make up a substantial portion of the company’s revenues.
Vivien Azer’s price target of $21.00 USD per share implies a potential upside of approximately 102.90% based on the last traded price of $10.35 USD per share in the pre-market session on the NASDAQ.
According to TheFly, “Cowen analyst Vivien Azer believes the selloff in Greenlane shares appears “overdone” following news of the potential e-cigarette ban in San Francisco. The analyst remains confident in the company’s long-term fundamentals and believes valuation remains attractive. Azer would continue to be a buyer at current levels. She reiterates an Outperform rating and $21 price target on the shares.”
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