The Healthcare company, Aphria Inc (TSXV: APH), has received a rating update from a Wall Street analyst today. Analyst Noel Atkinson from Clarus reiterated a Buy rating, with a C$26.25 price target.
Atkinson wrote:
“We estimate that Scythian is paying or has paid close to C$100MM for the Latin American assets but that Scythian will need to close at least some of these acquisitions before reselling them to Aphria. Company management has openly discussed the intent to pursue Latin American expansion for some time. Competitors’ activity in Colombia may have helped in this regard. For example, Canopy Growth (TSX: WEED, NR) announced on July 5 that it was buying a Colombian licensee and an entity controlled by its new head of Latin American operations for up to US$150MM (C$195MM) including milestone payments. Aphria Inc.”
Atkinson has an average return of 197.6% when recommending Aphria Inc.
According to TipRanks.com, Atkinson is ranked #117 out of 4840 analysts.
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Aphria Inc has an analyst consensus of Strong Buy, with a price target consensus of C$23.58, which is an 115.1% upside from current levels. In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a C$24.50 price target.
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Aphria Inc’s market cap is currently C$1.85B and has a P/E ratio of 49.6. The company has a Price to Book ratio of 2.52.
Aphria, Inc. engages in the production and supply of medical marijuana. Its products include alien dawg, champlian indica, grower’s blend, champlain-sativa and blueberry. The company was founded by Cole Cacciavillani and John Cervini on June 22, 2011 and is headquartered in Leamington, Canada.
The company’s shares closed on Wednesday at C$10.96.
