AYR Strategies (AYRSF) Initiated with a Buy at Echelon Wealth Partners


Echelon Wealth Partners analyst Matthew Pallotta initiated coverage with a Buy rating on AYR Strategies (AYRSF) yesterday and set a price target of C$22.00. The company’s shares closed last Monday at $10.39.

According to TipRanks.com, Pallotta is a 2-star analyst with an average return of 3.4% and a 69.2% success rate. Pallotta covers the Healthcare sector, focusing on stocks such as Green Thumb Industries, Trulieve Cannabis, and Columbia Care.

Currently, the analyst consensus on AYR Strategies is a Strong Buy with an average price target of $17.14.

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Based on AYR Strategies’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $38.51 million. In comparison, last year the company had a GAAP net loss of $44.62 million.

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Ayr Strategies, Inc. engages in the cultivation and manufacturing of cannabis products. It produces cannabis packaged goods under the CannaPunch, Dutch Girl and Nordic Goddess brands. The company was founded on July 31, 2017 and is headquartered in Toronto, Canada.

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