Charlotte’s Web Holdings
Charlotte’s Web Holdings (CWBHF) is trading with gains of 4.8% as of 10:50 AM EST. The stock had seen upwards price action of 13.5% on Thursday also and is up 41.81% for the year based on its closing prices on February 1. Cormark Securities initiated coverage on Charlotte’s Web Holdings with a “buy” rating and a target price of 25.50 Canadian dollars.
Charlotte’s Web Holdings has received a “strong buy” rating from one analyst, while the remaining three analysts polled by Thomson Reuters on February 4 have rated the stock as a “buy” or some equivalent. The stock doesn’t have any “hold” or “sell” recommendations. Charlotte’s Web Holdings has received a mean consensus price target of 27.52 Canadian dollars, which represents a potential upside of 26% over its closing prices on February 1.
Charlotte’s Web Holdings is expected to post revenues of $151 million in 2019 as compared to $70.1 million in 2018. The company’s EBITDA is expected to rise to $55.8 million in 2019 from $23.5 million last year. Charlotte’s Web Holdings is trading at a 2019 PE multiple of 113x.
Aurora Cannabis (ACB) and Canopy Growth (WEED) have a 2020 PE of 51.7x and 445x, respectively.
Correction: An earlier version of this article indicated that CWBHF had seen upward price action of 13.5% on Friday, rather than Thursday.