Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Cannabis Q3 results could trigger further share price weakness Harmonizing valuations downward Concern no 1: Persistent losses at larger operators Concern no 2: Weak Q3 CY19 due to inventory build-up Concern no 3: Vaping health issues to impact US MSO and potentially delay Canadian introduction
MEDMEN ENTERPRISES - Neutral vs BUY | CAD3 vs. CAD8.3 (+2%) Model maintenance and downgrade Our new revenue forecasts are well below consensus Efforts to lower corporate & general expenses are not enough Need for cash remains high
MEDMEN ENTERPRISES - BUY | CAD10 (+32%) US ballot results positive for cannabis 3 out of the 4 cannabis ballots have been successful Ballot Michigan Prop 1, Adult Use (Yes 57% - 71% reporting) Ballot - Missouri Amendment 2 Medical Use – For 65.6% (99% reporting) Ballot - Utah Prop 2, Medical Use – For 53% (76% reporting)
A busy two weeks doubling the number of states Over the past two weeks MedMen has spent an estimated USD720m (BG est.) for the acquisition of 12 dispensaries and licenses for an additional 9. Furthermore it has acquired existing and planned cultivation for over 600,000 sq. ft. In total the company now has 66 licenses for retail in 12 states (up from 6) and 13 licenses for cultivation and production, confirming itself as the leading vertical integrated cannabis enterprise in the United States. ...
As the largest quoted US cannabis company, MedMen is the main beneficiary of the rapidly growing legal US cannabis market. In 2017, legal cannabis sales in the US were an estimated USD8.5bn out of a total market of USD54.3bn. Not only is legalisation gaining momentum, MedMen’s store expansion is also accelerating. We initiate the company with a Buy recommendation and a Fair Value of CAD10.0 per share, nearly double the current share price of CAD5.44.First bullet Version
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