RE:Canaccord He lowered his target for Supreme Cannabis Co. (FIRE-T) to 50 cents from $1 with a “speculative buy” rating (unchanged). The average is 57 cents.
“On the back of another disappointing quarter that saw little progression in its top line and a balance sheet that we believe will make it challenging for Supreme to re-accelerate its growth initiatives (with significant maturities coming due in 2021), we have lowered our medium/longer-term assumptions that peg the company’s Canadian market share to a range of 3 per cent to 5 per cent (down from 5 per cent to 7 per cent),” he said.
Says it all....