TSX:JWEL - Post Discussion
Post by
retiredcf on May 05, 2023 7:49am
Targets Raised
RBC’s Sabahat Khan bumped his Jamieson Wellness Inc. target to $42 from $41, remaining below the $43.60 average, with an “outperform” rating, while Scotia’s George Doumet raised his target to $39 from $38.50 with a “sector perform” rating.
“JWEL’s Q1 results came in ahead of our (and company) guidance driven by a stronger than expected performance at Youtheory and to a lesser extent China and SP,” said Mr. Doumet. “The company maintained 2023 guidance (with the biggest swing factor being 2H performance at Jamie Canada). Youtheory is expected to continue to ramp up (new products are shipping in Q2) and should hit its $155-million revenue run-rate in Q4. China remains on track to deliver 25-30-per-cent growth in revenues and Canada has not experienced any material trade-down or increased promotional activity. While all signs point in the right direction, we see the current risk/reward picture as balanced.”
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