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Fly News Breaks for September 10, 2019
SNDL
Sep 10, 2019 | 05:43 EDT
BMO Capital analyst Tamy Chen last night upgraded Sundial Growers to Outperform from Market Perform with an unchanged price target of $12. The current valuation implies 2020 revenues of C$220M, says the analyst, which is well below her forecast of C$490M. While there remains execution uncertainty in the industry, Sundial shares are now reflecting an overly cautious revenue outlook in the context of the company's results to date, Chen tells investors in a research note. As a result, the analyst believes the current stock price "could offer a stronger return relative to some of its peers."