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Fly News Breaks for November 18, 2019
Nov 18, 2019 | 07:26 EDT
Seaport Global analyst Brett Hundley downgraded Green Organic Dutchman to Neutral from Buy without a price target following the company's Q3 earnings report and announcement on forward funding arrangements. During October, previous funding efforts failed to materialize, and the company subsequently announced a construction halt to its large-scale Valleyfield production facility, Hundley tells investors in a research note. As a result, the analyst made "sizable" reductions to his forward sales and EBITDA expectations. He's also "increasingly uncertain" about broader industry development of organic cannabis.
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