In a recently released analyst guidance update, Canaccord Genuity Equity Research Analyst, Kimberly Hedlin, reiterated her Speculative Buy rating on shares of cannabis extraction leader MediPharm Labs Corp. (TSXV:LABS) (OTC:MLCPF) (FRA:MLZ) with a higher price target.
This analyst guidance comes just hours after MediPharm Labs announced the formation of a new Science Advisory Committee, a.k.a. SAC, comprised of an internationally esteemed group of expert scientists, researchers, and medical professionals.
Raised from her initial price target of $4.75 CAD per share, Kimberly Hedlin’s new MediPharm price target of $5.50 CAD per share implies a potential upside of approximately 18.53% based on the last traded price of $4.64 CAD on the TSXV.
According to this morning’s press release, “The SAC will collaborate with the MediPharm Labs management team on advancements in the emerging fields of cannabinoid extraction and cannabinoid-based derivative science. This work will serve to further enhance the Company’s manufacturing platform and research practices, assist management in evaluating commercial opportunities related to technologies, testing and methodologies and provide guidance on partnerships with globally preeminent academic and medical institutions for cannabis research.”
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