As previously reported, MKM Partners analyst Bill Kirk started HEXO Corp. (HEXO) with a Buy rating and C$12 price target, citing his belief that its approach to be the working component of expert partners' products has the best chance of creating a defensible "Powered by HEXO" brand and that its less commoditized approach should grant early access to "exciting categories," such as cannabis edibles via its partnership with Molson Coors (TAP). While Kirk thinks most estimates are likely too high in the sector, he doesn't think consensus is crediting HEXO for its goal of $C400M in 2020 sales, he added.

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