Globe says Organigram raised to "speculative buy"Organigram Holdings Inc (C:OGI)
Shares Issued 299,849,354
Last Close 1/12/2022 $2.14
Thursday January 13 2022 - In the News
The Globe and Mail reports in its Thursday edition that Canaccord analyst Matt Bottomley has upgraded Organigram Holdings to "speculative buy" from "hold." The Globe's David Leeder writes that Mr. Bottomley gave his share target a 25-cent boost to $3.25, two cents ahead of the consensus. Mr. Bottomley believes Organigram's positive momentum will continue. He says in a note: "Organigram Holdings Inc. reported FQ1/22 financial results (for the period ended November, 2021) that represented a second sequential quarter of revenues and adjusted earnings before interest, taxes, depreciation and amortization that came in higher than our expectations, as the company continues to build on the positive momentum from the end of FY21. Although we believe the Canadian cannabis landscape continues to face a variety of headwinds (increasing competition, pricing pressures, etc.), we believe Organigram has demonstrated strong execution over the past two quarters in its ability to pivot products to offer a wider array if in demand SKUs and has effectively doubled its market share on a year-over-year basis." The Globe reported on Nov. 25 that Mr. Bottomley had reaffirmed his "hold" call for Organigram when it was worth $2.77.