National Bank Starts Coverage With Sector Perform Rating2023-05-19 11:15:27 AM ET (MT Newswires)
11:15 AM EDT, 05/19/2023 (MT Newswires) -- National Bank said Thursday that it has moved good natured Products Inc. (GDNP.V) to sector perform and a price target of $0.25 from under review after citing rapidly growing demand for eco-friendly options with plant-based products well-positioned to benefit.
"The Company is focused on becoming North America's leading earth-friendly product company. It aims to gain the highest share of each customer's total spend on sustainable products to drive a recurring revenue model through customer loyalty," the analysts said.
National Bank said it is monitoring the company's progress and that investments will allow the company to leverage its first-mover advantage.
"Our target for GDNP is based on the average of the 2023E value in our DCF and the 2024E metric in our NAV analysis based on EV-to-Sales," the analysts noted.