Jefferies Sticks to Their Buy Rating for The Flowr Corporation (FLWR)


Shares of The Flowr Corporation (FLWR) were revisited by a Wall Street analyst today. Analyst Owen Bennett from Jefferies rated The Flowr Corporation (FLWR) a Buy, setting a C$5.70 price target.

Bennett wrote:

“Q4 net revenues of C$2.9m really impressed. With only 20% of its current facility operational in Q4, we’d argue this is testament to its high quality premium product and bodes well for the rest of the year. On the negative side, and attributed to the limited facility utilisation, GM came in at 9%. The company expects this to remain pressured for FY19 as, although the current facility scale will increase, it will also likely start building additional facilities.”

According to TipRanks.com, Bennett is a 1-star analyst with an average return of -0.7% and a 46.7% success rate. Bennett covers the Healthcare sector, focusing on stocks such as The Green Organic Dutchman Holdings Ltd, Aurora Cannabis Inc, and Tilray Inc.

The Flowr Corporation has an analyst consensus of Moderate Buy, with a price target consensus of C$5.70.

The company has a one-year high of C$8.42 and a one-year low of C$2.74. Currently, The Flowr Corporation has an average volume of 264.7K.

The Flowr Corp. engages in the operation and building of cannabis cultivation facilities. Through its subsidiaries, it offers cannabis products under the Flowr brand. The company was founded by David Miller and is headquartered in Markham, Canada.

The company’s shares closed on Thursday at C$6.03.

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