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What Analysts Recommend for MedReleaf

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MedReleaf

MedReleaf (MEDFF) was down by as much as 34% YTD (year-to-date) and traded at its lowest point in March at 17.7 Canadian dollars. Several cannabis stocks (MJ) closed at their respective monthly low on March 22. This includes Aphria (APHQF), Aurora Cannabis (ACB), and Cronos (CRON). Let’s look at how the analysts’ ratings and price targets for MedReleaf changed in March.

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Analyst ratings

As of March 22, the consensus analyst mean rating on MedReleaf was 1.6, which remained unchanged from the previous month. In the above chart, we see that three analysts continue to have a “strong buy” recommendation and five analysts continue to have a “buy” recommendation on the stock for the next-12-month period. Also, none of the analysts have either a “hold,” “sell,” or a “strong sell” recommendation on the stock.

Price target

Similar to how the analysts’ ratings on MedReleaf remained unchanged month-over-month in March, the consensus mean price target also remained unchanged at 27.88 Canadian dollars a month ago, while the median price target rose to 28 Canadian dollars from 26.6 Canadian dollars.

MedReleaf closed at 17.68 Canadian dollars on March 18, which leaves a 57.7% upside on the stock when compared to the mean price target. On comparing with the median price target, we see an upside of almost 58% on the stock.

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