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Aphria: Analysts’ Recommendations and Target Price

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Dec. 4 2020, Updated 10:52 a.m. ET

Aphria’s ratings

On June 18, Canaccord Genuity cut its target price on Aphria (APHA) to 16 Canadian dollars from 18 Canadian dollars. Canaccord also lowered its revenue estimates for the company to 531 million Canadian dollars from 608 million Canadian dollars due to slower-than-expected capacity growth. We’ll discuss analysts’ consensus compared to Canaccord’s target price.

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Analysts’ consensus rating

For Aphria, the consensus target price from 13 analysts in June was a “buy.” Among the 13 analysts, three recommended a “strong buy,” six recommended a “buy,” three recommended a “hold,” and one recommended a “sell.” Tilray (TLRY) and Cronos Group (CRON) both have a “hold” recommendation in June.

The consensus target price on Aphria stock trended lower to 15.7 Canadian dollars in June from 16.6 Canadian dollars. Canaccord Genuity’s recent changes to the target price were close to the consensus. On June 24, Aphria closed at 9.35 Canadian dollars, which would leave an upside of ~67% from the current price level.

These target prices should be used with caution. Cannabis stocks have often fallen short of analysts’ expectations.

Read What Would Legalization in New York State Mean for Cannabis? to learn more.

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