Canaccord Genuity analyst Matt Bottomley maintained a Sell rating on Cronos Group (CRON) yesterday and set a price target of C$7.50. The company’s shares closed last Friday at $10.45.
According to TipRanks.com, Bottomley is a 5-star analyst with an average return of 37.9% and a 56.2% success rate. Bottomley covers the Basic Materials sector, focusing on stocks such as Harvest Health & Recreation, Green Thumb Industries, and OrganiGram Holdings.
The word on The Street in general, suggests a Hold analyst consensus rating for Cronos Group with a $9.52 average price target.
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Based on Cronos Group’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $11.36 million and net profit of $69.03 million. In comparison, last year the company earned revenue of $5.79 million and had a net profit of $604 million.
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Cronos Group, Inc. engages in the production and sale of cannabis in federally legal jurisdictions, including Canada and Germany. Its portfolio includes Peace Naturals, Original BC (OGBC) and Whistler Medical Marijuana Company (WMMC). The company was founded by Lorne Michael Gertner and Paul Rosen on August 21, 2012 and is headquartered in Toronto, Canada.
