Market analysts throw their support behind the cannabis companies
Two cannabis companies are going to see substantial gains this year, according to a couple market analysis firms. Both Aphria Inc. and Khiron are expected to be big performers throughout 2019, with strong gains coming by the end of the year.
Canadian brokerage Cormark gave its support to Aphria over the weekend, putting a target price of $15.00 on the NYSE-traded company. Despite some missteps from last year, including an attack by a short-seller, the company has been able to get back into the race and is turning itself around. Despite the ongoing takeover battle with Green Growth Brands, Cormark believes the legal cannabis market in Canada is going to be a boon for the company.
Khiron Life Science, which is traded on the Toronto Stock Exchange and the OTCMKTS exchange, is also poised for greatness. Canaccord Genuity has increased its target price for the cannabis company from $2.59 to $3.80, a move that comes after Canaccord analyst Kimberly Hedlin visited the company and toured its operations. Hedlin, who previously predicted 5% patient growth for the company, revised her forecast after one of Khiron’s clinic saw an increase of 19%.
Khiron has also partnered with Dixie Brands, a cannabis consumer packaged goods company. That partnership was announced last week and will see both companies in a joint venture launching cannabis-infused products to all of Latin America.
The marijuana stock markets continue to show signs of limited volatility, which will continue for most of 2019. However, there are great things on the horizon and investing in marijuana stocks now could produce incredible results in just a few short years.