Buy Supreme Cannabis for a double, PI Financial saysBuy Supreme Cannabis for a double, PI Financial says SEPTEMBER 25, 2018
Analyst Jason Zandberg of PI Financial says licensed cannabis producer The Supreme Cannabis Company exceeded his expectations in its latest quarterly report. In an update to clients on Monday, Zandberg reiterated his “Buy” rating and $4.50 price target for FIRE.
Supreme Cannabis announced its fiscal fourth quarter 2018 financials for the three months ending June 30, 2018, with the company generating $3.5 million in revenue, which was up 71 per cent from the previous quarter and beat Zandberg’s estimate of $2.6 million. Q4 EBITDA was negative $0.3 million, up from negative $2.5 million last quarter and beating Zandberg’s negative $2.7 million estimate. CEO Navdeep Dhaliwal says the company’s 7ACRES facility is set to become the first coast-to-coast premium rec cannabis brand in Canada.