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Fly News Breaks for October 15, 2019
APHA
Oct 15, 2019 | 12:51 EDT
Seaport Global analyst Brett Hundley said that in a Canadian cannabis market that "badly needed positive data points," Aphria reported "solid" Q1 results, including sequential growth top line growth in Canada and better then expected EBITDA of $1M. Cash burn was "within an acceptable range" and the company's over $500M pro-forma of available cash reinforces his confidence in his Buy rating, Hundley tells investors in a post-earnings research note. He maintains an $8 price target on Aphria shares.
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