Cannacord Price Target $25.50 Perhaps more importantly, Bottomley sounded the bullhorn on valuation. Not only is the company relatively inexpensive—as in, less than half the valuation multiples as its peers—Canaccord would be buyers at today’s level. According to the note:
… Aphria remains one of the more attractive large cap Licensed Producers on its relative valuation, with a two-year fwd EV/EBITDA multiple of 8.9x (a significant discount to its most comparable peers at 20.9x), and we would remain buyers at current levels.
That’s a great soundbite from one of the cannabis industry’s best analysts. It also echoes support for Cannacord’s previously-issued C$25.50 price target on Aphria last month, which it’s obviously sticking by.