Fly News Breaks for October 31, 2019
Oct 31, 2019 | 05:09 EDT
BMO Capital analyst Tamy Chen downgraded Sundial Growers to Market Perform from Outperform with a price target of $4, down from $8. Recent developments suggest there is now less demand and lower pricing in the licensed cannabis producer to licensed cannabis producer market as more producers have ramped production, Chen tells investors in a research note. The analyst points out that the producer-to-producer channel represents the majority of Sundial's current revenues. As a result, Chen believes Sundial will continue to be attributed a lower relative multiple until the company can demonstrate a "clearer pathway towards a meaningful presence" in the recreational cannabis market.
News For SNDL From the Last 2 Days
May 13, 2021 | 07:49 EDT
Canaccord Genuity analyst Shaan Mir upgraded Sundial Growers to Hold from Sell with a price target of 70c, up from 65c, post the Q1 results. Sundial's cash balance presents an opportunity to deploy capital into accretive investment opportunities and generate returns, Mir tells investors in a research note. The analyst adds that given the recent pullback in the share price, Sundial is currently trading near his implied valuation.
May 13, 2021 | 06:33 EDT
Canaccord analyst Shaan Mir upgraded Sundial Growers to Hold from Sell.