The Analyst
AnalystPablo Zuanicfrom Cantor Fitzgerald kept an Overweight rating for Irwin Naturals (CSE:IWIN) (OTC:IWINF) but lowered its 12-month price target to US$6.00 (C$8.05) from US$6.20 "on adjusted estimates."
The Thesis
Zuanic highlighted the "potential approval of various forms of psychedelics-assisted therapy, which should provide a boost for the mental health clinics sector (where stocks remain mostly under the radar)."
Irwin Naturals remains focused on its "roll-up strategy" of the mental health clinics industry, but "it has pushed out targets (100 clinics by end of CY24 vs. CY23 before)," Zuanic said in his analyst note on Monday.
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