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CTST

CannTrust

$4.11

-0.82 (-16.63%)

10:38
07/08/19
07/08
10:38
07/08/19
10:38

BofA double downgrades CannTrust to Underperform after Health Canada probe

BofA Merrill Lynch analyst Christopher Carey downgraded CannTrust two notches, to Underperform from Buy, and halved his price target on the shares $3.50 from $7 after the company announced that an audit from Health Canada found it had cultivated cannabis in rooms not yet licensed to do so and put a freeze on some of the company's inventory. Even following this morning's slide he expects the stock to remain weak due to uncertainty on the impact of the probe on CannTrust's financials as well as due to likely diminished investor confidence, said Carey. In morning trading in New York, CannTrust shares are down 92c, or 19%, to $4.02.

CTST CannTrust
$4.11

-0.82 (-16.63%)

05/30/19
BMOC
05/30/19
UPGRADE
Target $11
BMOC
Outperform
CannTrust upgraded to Outperform from Market Perform at BMO Capital
BMO Capital analyst Tamy Chen upgraded CannTrust (CTST) to Outperform and raised his price target on the stock to $11 from $10. The analyst cites the company's ramp of its Phase 2 greenhouse development observed in his recent visit, saying the site is nearing a full capacity of 50k kg per year ahead of his prior expectations. Chen notes that CannTrust's run rate is third only to Canopy (CGC) and Aurora (ACB), even though it trades at a "notable discount."
07/03/19
SBSH
07/03/19
INITIATION
Target $7
SBSH
Buy
CannTrust initiated with a Buy at Citi
Citi analyst Wendy Nicholson started CannTrust Holdings with a Buy rating and $7 price target. The analyst says that while the company's path to profitability is "less clear," its revenues are growing "strongly." As a result, she values CannTrust on a sales multiple and sees "lots of upside" in the shares.
07/03/19
SBSH
07/03/19
NO CHANGE
Target $7
SBSH
Buy
Citi sees a 'lot of upside' in CannTrust shares, starts with Buy rating
Citi analyst Wendy Nicholson initiated coverage of CannTrust Holdings with a Buy rating and $7 price target. The stock closed yesterday down 15c to $4.97. CannTrust is one of the largest licensed producers of cannabis in Canada, and is well positioned to compete in the "rapidly-evolving" global cannabis market, Nicholson tells investors in a search note titled "Not a Lot of Visibility, but We See a Lot of Upside." Through its "state-of-the-art" cultivation and growing operations, CannTrust is focused on producing consistently high-quality and increasingly low-cost cannabis, explains the analyst. With its revenues "growing strongly," but path to profitability "less clear," Nicholson values the stock on a sales multiple. She expects CannTrust's sales to nearly triple in 2019 and nearly double again in 2020.
07/08/19
BOFA
07/08/19
DOWNGRADE
BOFA
Underperform
CannTrust downgraded to Underperform from Buy at BofA/Merrill

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NASDAQ Market Internals

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UNIT

Uniti Group

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10-Yr TIPS Auction Coupon Rate data reported »

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10-Yr TIPS Auction Total Amount data reported »

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TELL

Tellurian

$6.99

0.32 (4.80%)

13:05
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Options
Tellurian call volume above normal and directionally bullish »

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Stephens architecture analysts to hold analyst/industry conference call nosymbol »

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EMR

Emerson

$64.26

-0.4 (-0.62%)

12:55
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Options
Emerson put volume heavy and directionally bearish »

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Treasury $14 B 10-year TIPS preview: the auction outlook is mixed. »

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FB

Facebook

$200.15

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Instagram hiding 'likes' in more countries to ease pressure, Gadgets says »

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DHR

Danaher

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2.19 (1.57%)

12:40
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Danaher analyst commentary at Piper Jaffray »

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American Express

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Earnings
Fly Intel: What to watch in credit card space earnings reports »

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American Express

$128.02

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MasterCard

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Uber

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Lyft

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Western Union

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Banco Bilbao

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BUD

AB InBev

$88.73

0.31 (0.35%)

, KKR

KKR

$25.38

-0.08 (-0.31%)

12:36
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Periodicals
AB InBev weighs asset sales after calling off Asian IPO, WSJ reports »

Anheuser-Busch InBev…

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AB InBev

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KKR

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ESV

Ensco Rowan

$7.74

-0.16 (-2.03%)

12:35
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Ensco put volume heavy and directionally bearish »

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CHS

Chico's

$3.29

-0.13 (-3.80%)

12:34
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Chico's FAS initiates Fort Myers lockdown after call over active shooter threat »

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CPE

Callon Petroleum

$4.87

-0.35 (-6.71%)

12:33
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Conference/Events
Callon Petroleum management to meet with JPMorgan »

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BUD

AB InBev

$88.64

0.22 (0.25%)

12:29
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Hot Stocks
Breaking Hot Stocks news story on AB InBev »

AB InBev up 1% to $89.30…

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BUD

AB InBev

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Periodicals
Breaking Periodicals news story on AB InBev »

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UAL

United Continental

$94.94

0.11 (0.12%)

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Boeing

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12:28
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Hot Stocks
United to resume service between New York/Newark and Delhi and Mumbai »

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UAL

United Continental

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Boeing

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William Blair enterprise & cloud infrastructure analyst to hold a group luncheon »

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BA

Boeing

$363.39

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12:24
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Periodicals
Some Boeing planes may be prone to cell phone interference, Bloomberg says »

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MBUU

Malibu Boats

$35.98

-0.7 (-1.91%)

12:23
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Malibu Boats licenses wakesurfing patent portfolio to Sanger Boats »

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SBPH

Spring Bank Pharmaceuticals

$5.59

0.48 (9.39%)

, ARWR

Arrowhead

$29.53

0.99 (3.47%)

12:22
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12:22
Recommendations
Spring Bank Pharmaceuticals, Arrowhead, Johnson & Johnson, Gilead analyst commentary at Piper Jaffray »

Spring Bank research…

SBPH

Spring Bank Pharmaceuticals

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ARWR

Arrowhead

$29.53

0.99 (3.47%)

JNJ

Johnson & Johnson

$131.79

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GILD

Gilead

$66.86

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AKZOY

AkzoNobel

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PPG

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0.105 (0.09%)

12:19
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Periodicals
Axalta has drawn interest from suitors, wants deal by fall, Bloomberg reports »

Axalta Coating Systems…

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AkzoNobel

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PPG

$116.71

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AXTA

Axalta Coating

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$NSD

NASDAQ Market Internals

$0.00

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12:17
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