Cronos Group Inc (CRON) Received its Third Buy in a Row


After CIBC and Merrill Lynch gave Cronos Group Inc (NASDAQ: CRON) a Buy rating last month, the company received another Buy, this time from Piper Jaffray. Analyst Michael Lavery maintained a Buy rating on Cronos Group Inc today and set a price target of $12.00. The company’s shares closed last Monday at $8.51, close to its 52-week low of $6.50.

According to TipRanks.com, Lavery has 0 stars on 0-5 star ranking scale with an average return of -9.0% and a 32.1% success rate. Lavery covers the Consumer Goods sector, focusing on stocks such as Mondelez International, Canopy Growth Corp, and Post Holdings Inc.

Cronos Group Inc has an analyst consensus of Moderate Buy, with a price target consensus of $14.20, a 71.9% upside from current levels. In a report issued on October 7, Merrill Lynch also maintained a Buy rating on the stock.

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Cronos Group Inc’s market cap is currently $2.9B and has a P/E ratio of 4.36. The company has a Price to Book ratio of 3.05.

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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.

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