Roth MKM lowered the firm’s price target on Flora Growth (FLGC) to $4 from $5 but keeps a Buy rating on the shares after its Q3 results this week. The company continues to re-balance its assets and offerings, following the transitional year that shifted its focus away from Colombian cultivation and toward more profitable U.S./European branded opportunities, and while net sales declined y/y and q/q, adjusted EBITDA loss actually narrowed from Q2, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on FLGC:
- Flora Growth Eyes Cannabis Market Expansion
- Flora Growth Enters New Supply Agreement with NGC
- Flora Growth Welcomes New Director to Expand in Europe
- Flora Growth Expands into Germany with New Cannabis Strains
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
