TSXV:NDVA - Post Discussion
Post by
HARJAY on Nov 24, 2023 9:25am
FYI
Globe says now seen as a good time to buy more Indiva
2023-11-23 07:38 ET - In the News
The Globe and Mail reports in its Thursday, Nov. 23, edition that Echelon Partners analyst Andrew Semple has upgraded Indiva to "speculative buy" from "hold." The Globe's David Leeder writes that Mr. Semple is the lone analyst covering the stock. He elevated his share target to 13 cents from 10 cents. Mr. Semple says in a note: "Our decision to upgrade the stock is the result of: 1) improved financial forecasts (and DCF valuation) while still maintaining a degree of conservatism relative to management's internal expectations, 2) an improved risk profile with a near term liquidity gap in our model now plugged, and 3) ahead of potential material catalysts for Canadian LPs and edibles manufacturers specifically. In addition, since we moved Indiva to a 'hold' rating, its shares have declined by 27 per cent. We view the risk/reward trade-off to now be much improved at current share price levels, and with demonstrated operational and balance sheet improvements. We believe it is an opportune time for investors to consider adding to positions." The Globe reported on Sept. 8, 2021, and Oct. 18, 2021, that Raymond James rated Indiva "strong buy" and "outperform." It was then worth 51 cents and 43.5 cents.
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