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Fly News Breaks for October 29, 2019
MMNFF
Oct 29, 2019 | 08:20 EDT
Roth Capital analyst Scott Fortune downgraded MedMen to Neutral from Buy following the company's Q4 report as he lowered his 2020 estimates on anticipated decelerating sales growth in California market due to a continuing strong black market. Fortune, who anticipates breakeven coming at the end of calendar 2020 for MedMen, believes cash constraints will weigh on the shares in the near-term. He lowered his price target on MedMen shares to C$2.00 from C$5.00.
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