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Fly News Breaks for January 13, 2020
APHA
Jan 13, 2020 | 09:17 EDT
BofA analyst Chris Carey initiated coverage of Aphria with a Neutral rating and C$7.00 price target. While Aphria has "enviable qualities," including a strong balance sheet, visibility to profit, and valuation, he believes its guidance seems aggressive and expects low margins until higher margin units ramp. The analyst added that his rating is not a call on fiscal Q2 results to be reported Tuesday, but is reflective of view on Aphria's setup for 2020.
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