MedReleaf Corp (LEAF) has a market capitalization of about 1.8 billion Canadian dollars. Unlike Canopy Growth (WEED), Aphria (APHQF), and Aurora Cannabis (ACBFF), which have been around for a while, MedReleaf came out with its IPO in June 2017 at a price of 9.50 Canadian dollars.
Although the stock didn’t have an impressive opening day, it’s now trading almost 89.0% higher than its IPO price. Let’s look at what analysts recommend for the stock.
The current consensus mean rating for MedReleaf stood at 1.6 with an overall “buy” recommendation on the stock for the next-12-month period. Of the seven analysts surveyed by Reuters, three have a “strong buy” recommendation on the stock while four analysts have a “buy” recommendation on the stock.
Unlike the other companies (HMLSF) we’ve discussed so far in this series, none of the analysts have either a “hold,” “sell,” or “strong sell” recommendation on MedLeaf.
Since MedLeaf’s debut in June 2017, analysts have gradually raised their price targets, especially after October 2017. The current consensus mean price target on the company stood at 25.90 Canadian dollars per share while the median price was a little lower at 21.50 Canadian dollars.
Compared to the market price of 18.00 Canadian dollars on February 6, the mean price target would give an upside of 44.0% while the median price target would leave a 19.0% upside if the current price were to converge with the analysts’ price targets.
In the concluding part of this series, we’ll discuss Scotts Miracle-Gro’s (SMG) ratings.