In a recently released analyst research report, GMP Securities‘ Managing Director of Equity Research for Special Situations and Healthcare, Martin Landry, just downgraded his opinion on shares of Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) to ‘hold’ with a lower price target.
Martin Landry’s new price target of $24 CAD per share implies a potential downside of approximately 7.40% based on the last traded price of $25.93 CAD per share on the TSX. That being said, there shouldn’t be any reason to worry.
According to TheFly, “He says his downgrade is not based on any operational issues, as he is a believer in Cronos’ “bright” outlook and has no concerns on the company’s expansion plans or the execution abilities of its management team, but says shares “need a breather” given the significant appreciation in recent weeks.”
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