GREY:FLOOF - Post by User
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NevadaBudKingon Sep 17, 2019 9:25am
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Flower One Holdings "buy" target the shares at $4.50
Flower One Holdings "buy" target the shares at $4.50 Globe says Malik rates Flower One Holdings "buy"
2019-09-17 07:20 ET - In the News
The Globe and Mail reports in its Tuesday edition that Industrial Alliance Securities analyst Nav Malik rates Flower One Holdings "buy" in new coverage. The Globe's David Leeder writes that Mr. Malik target the shares at $4.50. Analysts on average target the shares at $5.17. Mr. Malik says in a note: "Flower One's core strategy is to partner with top performing brands seeking to enter the Nevada market. ... Flower One currently has a portfolio of 11 brand partners and will continue to expand its portfolio going forward. Flower One shares initially traded around $1.50 following its RTO in October, 2018. The shares traded higher through April, 2019, reaching approximately $3.50, as the company made a number of positive announcements regarding new licensing and brand partnership agreements. Since April, 2019, FONE shares have trended lower (currently below $2), despite the company continuing to make steady progress with new licensing agreements and the completion of the NLV Greenhouse. We believe Flower One shares represent an attractive buying opportunity at current levels now that the conversion of the flagship greenhouse is complete and the company focuses on increasing its penetration of the Nevada market."