BioExx Specialty Proteins Ltd BIXZF

RE: From today's Canaccord Report

[anon314]

Here is what Sara Elford said in her July 5 post regarding the change in target price
We are reiterating our SPECULATIVE BUY rating, but reducing
our target price to C$2.00 from C$3.75 following closing of
BioExx’s equity financing late last week.
While the potential steady state economics and growth potential
for the company’s process remain intact (better than two-year
paybacks once steady state operations are achieved for plants 2-
5), the weakness in the share price, particularly when combined
with the capital intensity of future growth, demands that we take
a more conservative stance with respect to the future cost of
equity as well as the timing of additional plants for the time
being. The burden of proof will be higher over the next 12
months than it has been over the last three years.
Nevertheless, we believe that continuous progress towards
targeted metrics for throughput and yield in Saskatoon, coupled
with customer- and market-related validation, should translate
into above-average upside potential from the current level now
that BioExx is better funded. We expect to have news on both
fronts over the coming weeks and months.