The Analyst
In a recent analyst note,Pablo Zuanic, from Cantor Fitzgerald, remained Neutral onHigh Tide Inc.(NASDAQ:HITI) and established a price target of C$7.75 for the stock.
The Thesis
Zuanic remains Neutral on High Tide shares and lowered the 12-month price target to C$7.75 from C$8.75 in part due to sectoral derating and increased proforma share count.
"We now factor in our estimates of the all-share deal for CO-based CBD operator, NuLeaf Naturals, which closed on November 29. The current sales run rate for NuLeaf is above US$19 Million and EBITDA margins of 27% are well above...
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