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APHA

Aphria

$5.40

1.07 (24.71%)

12:51
10/15/19
10/15
12:51
10/15/19
12:51

Seaport Global says confidence in Buy rating on Aphria reinforced by earnings

Seaport Global analyst Brett Hundley said that in a Canadian cannabis market that "badly needed positive data points," Aphria reported "solid" Q1 results, including sequential growth top line growth in Canada and better then expected EBITDA of $1M. Cash burn was "within an acceptable range" and the company's over $500M pro-forma of available cash reinforces his confidence in his Buy rating, Hundley tells investors in a post-earnings research note. He maintains an $8 price target on Aphria shares.

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APHA Aphria
$5.40

1.07 (24.71%)

10/09/19
ROTH
10/09/19
NO CHANGE
ROTH
Roth says low enthusiasm for cannabis stocks doesn't reflect industry potential
Roth Capital analyst Scott Fortune noted that stocks in the cannabis sector have declined during the six months since the first quarter with the industry "mired in a capital crunch, with a vape crisis to make matters worse." However, he thinks the recently lower enthusiasm for cannabis stocks does not reflect the cannabis industry's prospects, as he still sees a lot of upside potential. A "meaningful shift" in investor focus to operational execution has led to a short-term correction in valuations, but the industry is still projected to grow at a 27% compound annual growth rate for the next three years, said Fortune, who advises that investors focus for now on companies with strong balance sheets and positive adjusted EBITDA who are nearing break even. Publicly traded companies in the cannabis space include Aphria (APHA), Aurora Cannabis (ACB), CannTrust Holdings (CNTTF), Canopy Growth (CGC), Cronos Group (CRON), Tilray (TLRY), and Trulieve Cannabis (TCNNF).
10/10/19
STFL
10/10/19
NO CHANGE
STFL
Hexo miss further damages cannabis industry credibility, says Stifel
Hexo (HEXO) this morning provided a preliminary update for its fiscal Q4 with revenue coming in below the consensus estimate and well below the "double" offered by management mid-quarter during the Q3 earnings call, Stifel analyst Andrew Carter tells investors in a research note. The preannouncement is "another headline damaging" the cannabis industry's credibility, Carter tells investors in a research note. For companies facing "significant financing risk," the analyst believes a "real segregation of assets will occur." Some companies will face significant dilution due to onerous financing terms while others will simply be unable to access capital, predicts the analyst. Carter thinks the macro environment will continue to be difficult and that the capital positions of Canopy Growth (CGC) and Cronos Group (CRON) are "clear competitive advantages." Those two have the ability to continue executing their business plans while capitalizing on the sector weakness, which "will only intensify from here," says Carter. Other names in the cannabis space include Aphria (APHA), Aurora Cannabis (ACB), CV Sciences (CVSI), CannTrust Holdings (CNTTF), General Cannabis (CANN), India Globalization Capital (IGC), Tilray (TLRY) and Zynerba (ZYNE). Shares of Hexo are down 24%, or 90c, to $2.78 in early trading.
10/11/19
JEFF
10/11/19
UPGRADE
JEFF
Hold
Jefferies upgrades Hexo to Hold, says pressures now understood
Jefferies analyst Owen Bennett upgraded Hexo (HEXO) to Hold from Underperform with a price target of $2.90. The pressures facing the company are now better understood following its weaker than expected outlook, Bennett tells investors in a research note. The analyst this morning also downgraded Canopy Growth (CGC) to Underperform from Hold. His top picks Cannabis are Aurora Cannabis (ACB), Aphria (APHA) and Green Organic Dutchman (TGODF).
10/14/19
GHSC
10/14/19
DOWNGRADE
GHSC
Neutral
Canopy, Hexo downgraded to Neutral as Seaport Global cuts cannabis estimates
Seaport Global analyst Brett Hundley lowered his sales and earnings forecasts for the conventional Canadian cannabis companies he covers as part of a broader reset of expectations for the Canadian cannabis space. As part of the broader changes, he downgraded Canopy Growth (CGC) and Hexo Corp. (HEXO), both to Neutral from Buy. Hundley has lowered his FY21 view for Canopy's revenue to $475.5M and his EBITDA forecast to ($75.1M), adding that he no longer feels confident in the company's potential to receive incremental equity warrant funding from Constellation (STZ) in the near-term. For Hexo, he now sees FY21 revenue of $121.7M and $0.2M in EBITDA. He expects market pricing to become "considerably more challenged" as industry production funnels into "a limited store set" in Canada, Hundley tells investors. He keeps a Buy rating on Aphria (APHA), making it his only Buy-rated conventional Canadian cannabis company, though he cut his price target on the stock to $8 from $13. Hundley has Neutral ratings on Aurora Cannabis (ACB) and Tilray (TLRY).

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AXAS

Abraxas Petroleum

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BRY

Berry Petroleum

$10.90

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CHK

Chesapeake

$0.59

-0.0496 (-7.70%)

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CPE

Callon Petroleum

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EOG

EOG Resources

$70.11

-1.15 (-1.61%)

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FXI

iShares China Large-Cap ETF

$41.74

0.455 (1.10%)

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$1.5M Call buyer in China ETF »

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FANG

Diamondback Energy

$74.48

-1.24 (-1.64%)

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MGY

Magnolia Oil & Gas

$11.32

-0.15 (-1.31%)

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OAS

Oasis Petroleum

$2.49

-0.135 (-5.14%)

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SWN

Southwestern Energy

$1.96

-0.015 (-0.76%)

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AVGO

Broadcom

$322.68

11.73 (3.77%)

, T

AT&T

$38.65

-0.96 (-2.42%)

10:08
11/19/19
11/19
10:08
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10:08
On The Fly
AT&T, MSG Networks downgrades among today's top analyst calls »

Check out today's top…

AVGO

Broadcom

$322.68

11.73 (3.77%)

T

AT&T

$38.65

-0.96 (-2.42%)

I

Intelsat

$5.90

-2.08 (-26.07%)

MSGN

MSG Networks

$17.82

-0.675 (-3.65%)

IMAX

Imax

$21.28

0.4 (1.92%)

AMC

AMC Entertainment

$8.79

0.3 (3.53%)

CNK

Cinemark

$34.42

0.295 (0.86%)

03/08/13
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WHLR

Wheeler REIT

$1.85

(0.00%)

10:08
11/19/19
11/19
10:08
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10:08
Hot Stocks
Stilwell Group urges Wheeler REIT shareholders to vote for director nominees »

The Stilwell Group, the…

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  • 19

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CHWY

Chewy

$22.50

0.395 (1.79%)

10:05
11/19/19
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10:05
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10:05
Options
Chewy call volume above normal and directionally bullish »

Bullish option flow…

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  • 09

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TGT

Target

$110.21

-0.38 (-0.34%)

, AMZN

Amazon.com

$1,756.23

3.53 (0.20%)

10:04
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Earnings
Fly Intel: What to watch in Target's earnings report »

Target (TGT) is scheduled…

TGT

Target

$110.21

-0.38 (-0.34%)

AMZN

Amazon.com

$1,756.23

3.53 (0.20%)

WMT

Walmart

$120.20

-0.01 (-0.01%)

03/08/13
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  • 19

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FBIO

Fortress Biotech

$1.85

-0.04 (-2.12%)

10:04
11/19/19
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Conference/Events
Fortress Biotech management to meet with Philadelphia Securities Association »

Group Luncheon Meeting…

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  • 19

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MMS

Maximus

$75.60

-1.93 (-2.49%)

10:01
11/19/19
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Earnings
Maximus says fiscal 2020 revenue will be stronger in first half »

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  • 19

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PFG

Principal Financial

$54.77

0.5 (0.92%)

10:01
11/19/19
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Conference/Events
Principal Financial management to meet with Sandler ONeill »

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  • 20

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VAL

Valaris

$3.82

-0.38 (-9.05%)

10:00
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Hot Stocks
Valaris falls -8.8% »

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KSS

Kohl's

$49.52

-8.875 (-15.20%)

10:00
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Hot Stocks
Kohl's falls -15.2% »

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  • 19

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I

Intelsat

$6.14

-1.84 (-23.06%)

10:00
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Hot Stocks
Intelsat falls -23.4% »

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  • 10

    Dec

AMRX

Amneal Pharmaceuticals

$3.05

0.215 (7.58%)

10:00
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Amneal Pharmaceuticals rises 8.8% »

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JKS

JinkoSolar

$16.95

2.07 (13.91%)

10:00
11/19/19
11/19
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Hot Stocks
JinkoSolar rises 13.9% »

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