TSX:GRN - Post Discussion
Post by
retiredcf on Mar 11, 2022 7:59am
Canaccord
As indicated, his only concern is with the sector, not GRN. GLTA
Canaccord Genuity’s Yuri Lynk cut his Greenlane Renewables Inc. target to $2.25 from $3 with a “buy” rating. The average is $2.68.
“Greenlane reported another record revenue quarter and its fifth consecutive positive adjusted EBITDA quarter,” he said. “Revenue increased 146 per cent in 2021 while EBITDA turned positive. A record backlog of $50 million expected to be delivered over the next 9-18 months reflects increasing demand for Greenlane’s biogas upgrading systems and points toward growth continuing in 2022. However, we trim our target price on a more conservative valuation multiple to reflect sector-wide multiple compression.”
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