- Canaccord Genuity initiates coverage of TGOD with C$7.00 price target
- TGOD expands international footprint to 17 countries with joint venture In Mexico
- Appoints new CFO, strengthens marketing and compliance with senior appointments
Canaccord Genuity has turned bullish on The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF), and its reasons are set out in an initiation report. The Canadian producer of organic cannabis is set for international expansion, say analysts from the investment bank’s research division. They have initiated coverage with a “Speculative Buy” rating and a price target of C$7.00 ($5.40), which is almost double the present value of the company’s shares (http://nnw.fm/p87HF). TGOD, they say, has enough cash “to achieve annual capacity of approximately 195,000 kg (excluding hemp production).” Some of that production may make its way to Mexico under a joint venture agreement, as the company continues to expand its international footprint. To run the show, TGOD is bringing in new talent. It now has a new CFO and has made appointments, at a senior level, in compliance and marketing.
The Canaccord Genuity analysts believe that a major differentiating factor for TGOD is its focus on organic cannabis, which is preferred, according to a…
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