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Finance

What to Expect from Supreme Cannabis in 2020

Analysts expect Supreme Cannabis’s fourth-quarter revenue to decline by 45.8% to 10.2 million Canadian dollars. The fiscal revenue could be around 40.8 million Canadian dollars. Analysts expect the company to report an EBITDA loss of 3.0 million Canadian dollars. For the fiscal year, the company could report an EBITDA loss of 30.9 million Canadian dollars.

Meanwhile, analysts expect Aurora Cannabis’s fourth-quarter revenue to decline by 22.1% to 77.0 million Canadian dollars. The company could also report an EBITDA loss of 18.4 million Canadian dollars.

Analysts are bearish on Supreme Cannabis stock after its third-quarter results. Canaccord Genuity cut the target price to 0.50 Canadian dollars from 1 Canadian dollar. Meanwhile, CIBC cut the target price to 0.35 Canadian dollars from 0.5 Canadian dollars.

Among the six analysts that cover the stock, four recommend a “hold,” one recommends a “strong-buy,” and one recommends a “buy.” The average target price for the stock is 0.41 Canadian dollars, which represents an upside potential of 38% from its last closing price. The stock closed higher at 3.5% and 0.295 Canadian dollars on Tuesday.

In June, Supreme Cannabis stock has declined by 12.0%, while Aphria has fallen by 0.23%. Aurora Cannabis has declined by 3.6% and Canopy Growth has gained 4.6%, respectively.

View more information: https://marketrealist.com/2020/06/what-expect-from-supreme-cannabis-2020/

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