OTCQB:VVCIF - Post by User
Post by
Nickyfeeon Jan 23, 2020 3:01pm
141 Views
Post# 30590382
Back up to 1$ real soon
Back up to 1$ real soon
Clarus Securities analyst Noel Atkinson says Vivo Cannabis is the most attractive small-cap cannabis producer in Canada. Atkinson initiated coverage of the stock this week with a Speculative Buy rating and $0.70 per share price target, reports Cantech Letter. Vivo Cannabis has four product brands: Beacon Medical, Canna Farms, Fireside and Lumina, and the company was one of the first LPs in the country to extract and sell cannabis oil products, with production now ongoing for Cannabis 2.0 products such as vapes, edibles, topicals and premium concentrates. Atkinson likes the company's solid base of premium indoor flower production in Canada along with its branching out into Europe where the company expects to receive EU-GMP certification for its Canadian operations in Q2 of 2020 and being shipping product immediately thereafter. This year should be a transformative year for Vivo, with the analyst forecasting 5,475 kg of Canadian market shipments, representing a 90% uptick over 2019, and then shipments of 9,650 kg in 2021. The analyst estimates VIVO will generate fiscal 2020 revenue of $47.2 million and an adjusted EBITDA of $(2.6) million and fiscal 2021 revenue of $94.6 million and adjusted EBITDA of $14.7 million.