Canaccord Genuity Downgrades CannTrust Holdings Inc (TRST) to Hold


In a new note to investors today, an analyst has provided a rating update for the Healthcare company, CannTrust Holdings Inc (TRST). Canaccord Genuity’s analyst Derek Dley downgraded TRST to Hold , with a C$5 price target.

According to TipRanks.com, Dley is ranked #1010 out of 5238 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for CannTrust Holdings Inc with a C$8.83 average price target, which is an 117.0% upside from current levels. In a report issued on July 8, Eight Capital also downgraded the stock to Hold with a C$6 price target.

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Based on CannTrust Holdings Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$12.8 million. In comparison, last year the company had a net profit of C$104.9K.

CannTrust Holdings, Inc. engages in the production and distribution of medical cannabis. It focuses on developing nanotechnology to create new products in the medical, recreational, beauty, wellness, and pet markets. The company was founded by Norman Paul and Eric Paul on March 16, 2015 and is headquartered in Vaughan, Canada.

The company’s shares closed on Thursday at C$4.07, close to its 52-week low of C$4.05.

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