Globe says Golden Leaf Holdings rated "speculative buy"
2018-02-13 08:20 ET - In the News
Shares issued 440,704,407
GLH Close 2018-02-12 C$ 0.39
The Globe and Mail reports in its Tuesday, Feb. 13, edition that Canaccord Genuity analyst Matt Bottomley began coverage of Golden Leaf Holdings (39 cents), an Oregon-based cannabis oil and solution provider, with a "speculative buy" rating. The Globe's David Leeder writes in the Eye On Equities column that Mr. Bottomley set a share target of 60 cents. Mr. Leeder notes that Mr. Bottomley is the lone analyst on the Street currently covering the stock. Mr. Bottomley says in a note: "Golden Leaf is a vertically integrated cannabis company, which benefits from operating in all areas of the value chain including, cultivation, extraction, product manufacturing, and sales to retail customers through its branded dispensaries. This is of particular importance in order to maintain operating margins as the cultivation of cannabis alone continues to become commoditized in maturing markets. Further, we believe that as markets continue to mature and grow, brands will eventually emerge as the winners in the industry. With an established presence in Oregon, over the past year Golden Leaf has added to its geographic diversification by securing a first-mover advantage in Nevada's recently legalized recreational market." |
