CannTrust (CNTTF) has delivered a decent return this year and has outperformed the ETFMG Alternative Harvest ETF (MJ) as well as peers such as Aphria (APHA) and Aurora Cannabis (ACB). CannTrust delivered a return of 28%, while Aphria returned 15.7% and Aurora Cannabis returned about 16% YTD. Let’s look at analysts’ view on the stock in January.
The consensus price target for CannTrust in January stood at 19.3 Canadian dollars, which was slightly lower than last month’s 19.6 Canadian dollars. As of January 22, the stock closed at 19.3 Canadian dollars, indicating a nearly 2x potential gain from the company if prices meet estimates.
The consensus recommendation of ten analysts on the company in the current month was a “buy” with one more analyst covering the stock compared to last month. Out of the ten analysts, four had a “strong buy” on the stock compared to three analysts last month, while six analysts had a “buy” recommendation on the company.
While these ratings give us a sense of direction for the cannabis company, we caution investors to take these recommendations and price target with a pinch of salt. The cannabis industry had been highly volatile and is not for the weak-hearted.