Analyst Cuts Organigram's Price Target Ahead of Q1 Report

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“OGI remains one of the most cost-efficient operators in Canada, with a focused approach, and we continue to think the valuation is attractive (3x 1yF EV/Sales compared with most direct peers at 7-8x).”

Benzinga reported, Pablo Zuanic maintained an Overweight rating on Organigram (TSX, NASDAQ: OGI) and cut the price target from CA$13.30 ($10.25) to CA$9.50 ($7.32) on January 6, 2020.

In order to mirror market share that’s more in line with the August quarter than prior quarters, Cantor trimmed its sales estimates for Organigram, Zuanic said in the Benzinga article. (Original Article)

About Organigram Holdings Inc.

Organigram Holdings Inc. is a NASDAQ Global Select and TSX listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of cannabis and cannabis-derived products in Canada.

Organigram is focused on producing high-quality, indoor-grown cannabis for patients and adult recreational consumers in Canada, as well as developing international business partnerships to extend the Company’s global footprint. Organigram has also developed a portfolio of legal adult use recreational cannabis brands including The Edison Cannabis Company, Ankr Organics and Trailblazer. Organigram’s primary facility is located in Moncton, New Brunswick and the Company is regulated by the Cannabis Act and the Cannabis Regulations (Canada).

Source: Benzinga

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