Roth MKM analyst William Kirk reiterated a Buy rating on Cronos Group (CRON – Research Report) today and set a price target of C$5.00.
William Kirk’s rating for Cronos Group (CRON) is based on several factors, all of which point to a positive outlook for the company. To begin with, Cronos holds a leading position in terms of market share in key formats. Furthermore, the Canadian market, where Cronos operates, is both growing and consolidating, providing favourable conditions for the company.
Cronos Group’s financial health also contributes to the Buy rating. Specifically, the company has a net cash position larger than its market capitalization. It is also nearing a cash flow positive status, as indicated by its 4Q interest income surpassing EBITDA loss. Additionally, Cronos has shown promising growth, with its 3Q net sales surpassing expectations and a 40% y/y growth in Canada. Finally, the company’s potential for expansion into the U.S. market further solidifies its positive outlook, thus earning it a Buy rating from William Kirk.
Kirk covers the Consumer Defensive sector, focusing on stocks such as Constellation Brands, Molson Coors, and United Natural Foods. According to TipRanks, Kirk has an average return of -9.6% and a 40.57% success rate on recommended stocks.
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Cronos Group (CRON) Company Description:
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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