Analysts Are Slightly More Bullish on Supreme Cannabis in May

Supreme Cannabis

Supreme Cannabis (SPRWF) was in the news two days ago for its appointment of Colin Moore to its board of directors. Moore was previously the president of Starbucks Canada and has held positions with big brands such as PepsiCo and KFC. This move aims to help the company develop its strategy to penetrate the recreational cannabis market (HMLSF). YTD (year-to-date), however, the stock has delivered a loss of 28% as of May 16.

Analysts Are Slightly More Bullish on Supreme Cannabis in May

Ratings

The current consensus mean ratings for Supreme Cannabis stood at 1.7 with an overall “buy” rating on the stock for the next 12 months. The mean ratings for the company changed from 1.8 in April, which is similar to Aurora Cannabis (ACB) and Canopy Growth (WEED), which have seen more bullish ratings month-over-month.

Out of the six analysts surveyed by Reuters, two analysts had a “strong buy,” one more than the previous month, and four analysts maintained a “buy” on the stock.

Price target

While the analysts got more bullish on Supreme Cannabis this month, the consensus mean price target for the stock also fell to 2.96 Canadian dollars or 6.3% from 3.2 Canadian dollars a month ago. The current mean price target represents an upside of ~79.4% from the closing of 1.65 Canadian dollars on May 16. The median price target also fell from 3 Canadian dollars to 2.5 Canadian dollars for the next-12-month period.

Next, we’ll discuss ratings and price target for Emblem (EMMBF) (EMC).