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Fly News Breaks for January 18, 2019
CGC, CRON
Jan 18, 2019 | 08:03 EDT
CIBC analyst John Zamparo initiated Cronos Group (CRON) with an Outperformer rating and C$22 price target. He expects cannabis to follow the course of other newborn industries, where investors rush to pour capital into the sector and then very few companies live up to their lofty expectations while the industries develop. However, he believes Cronos, and Canopy Growth (CGC), are likely to be two of the winners that come to dominate the global market. He believes the actions and visions of Cronos' management team stands above the rest of the field, Zamparo tells investors.