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Fly News Breaks for September 11, 2017
CDXC
Sep 11, 2017 | 07:24 EDT
H.C. Wainwright analyst Raghuram Selvaraju raised his price target for ChromaDex to $6 citing the company's partnership with the Hong Kong-based retailer, A.S. Watson. The analyst notes that CK Hutchison, whose Chairman is Li Ka-shing, owns 75% of Watsons. Li Ka-shing has now invested over $25M in ChromaDex, so Watsons should be incentivized to support the Tru Niagen launch, Selvaraju tells investors in a research note. He anticipates the partnership in 2018 could result in up to $10M in Tru Niagen-related revenue. The analyst reiterates a Buy rating on ChromaDex.
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