After Piper Sandler and Merrill Lynch gave Cronos Group (NASDAQ: CRON) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Rahul Sarugaser maintained a Buy rating on Cronos Group today and set a price target of C$12.00. The company’s shares closed last Monday at $6.69, close to its 52-week low of $6.04.
According to TipRanks.com, Sarugaser is ranked #708 out of 5881 analysts.
Currently, the analyst consensus on Cronos Group is a Strong Buy with an average price target of $11.06, which is a 61.0% upside from current levels. In a report issued on January 29, Merrill Lynch also maintained a Buy rating on the stock with a C$13.00 price target.
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The company has a one-year high of $24.37 and a one-year low of $6.04. Currently, Cronos Group has an average volume of 9.06M.
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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.
