Last week, Aphria’s (APHA) board provided some relief to investors with its findings on the LATAM asset acquisitions. While the board did find conflicts in the acquisition, it assured investors about the prices paid on the acquisitions and the steps it would take for future acquisitions. To learn more, read Aphria Reports Committee’s Findings after Short Seller Criticism.
In February, analysts’ consensus recommendation for Aphria is a “buy.” Among the ten analysts in the above chart, two recommended a “strong buy,” five recommended a “buy,” two recommended a “hold,” and one recommended a “sell.”
The consensus target price for Aphria in February was 16.3 Canadian dollars, which increased from 15.7 Canadian dollars in January. Aphria closed at 12.8 Canadian dollars on February 19. The current target price would leave room for ~27.3% upside. The median target price for the stock was 15 Canadian dollars, which increased from 14.5 Canadian dollars in January.
Cannabis stocks (HMMJ) like Canopy Growth (WEED), Tilray (TLRY), and Cronos Group (CRON) are all active in international markets. They’re aiming to get their first mover advantage before international markets open up.