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Fly News Breaks for August 13, 2019
CWBHF
Aug 13, 2019 | 06:08 EDT
Piper Jaffray analyst Michael Lavery last night initiated coverage of Charlotte's Web Holdings with an Overweight rating and $25 price target. Charlotte's Web is the largest public U.S. CBD company by revenues, and its distribution expansion can continue to drive sales growth, Lavery tells investors in a research note. While FDA regulation of CBD products is still evolving, clarity on regulation for other products could be a positive catalyst, says the analyst. He believes the U.S. CBD market could be an $8B-$15B market in five years.
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