Following the company’s third quarter results, Beacon Securities analyst Vahan Ajamian says he is impressed with the scale of what Cronos Group (TSXV:MJN) is doing.
On November 27, Cronos Group reported its Q3, 2017 results. The company generated Adjusted EBITDA of negative $500,000 on revenue of $1.3-million,a topline that was up 962 per cent over the scant revenue the company posted in the same period last year.
“We have successfully transformed the company over the past year and a half. We are now focused on executing our strategy to generate accelerated revenue growth and create long-term shareholder value,” said CEO Mike Gorenstein.
In a research update to clients today, Ajamian maintained his “Buy” rating, but raised his one-year price target on Cronos Group from $4.00 to $5.25, implying a return of 21 per cent at the time of publication.
