In a recently released analyst research report, Roth Capital Partners Director and Research Analyst Scott Fortune initiated coverage on shares of Canadian cannabis extractor MediPharm Labs Corp. (TSX:LABS) (OTC:MEDIF) (FRA:MLZ) with a Buy rating and a price target that suggests some juicy upside to come.
Recently, shares of MediPharm Labs Corp. received conditional approval from the Toronto Stock Exchange to graduate from the Toronto Venture Exchange and list its common shares on the TSX under the same symbol “LABS”.
Scott Fortune’s initial LABS price target of $9.00 CAD per share implies a potential upside of approximately 56.52% based on the last traded price of $5.75 CAD per share on the Toronto Stock Exchange.
According to TheFly, “Roth Capital analyst Scott Fortune started coverage of Medipharm Labs with a Buy rating and C$9 price target. The analyst believes the current share price represents an attractive entry point, as momentum of oil-based products will accelerate growth in extraction demand.”
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