Flora Growth Corp. (FLGC) PT Raised to $7 at Roth/MKM

Roth/MKM analyst Scott Fortune raised the price target on Flora Growth Corp. (NASDAQ: FLGC) to $7.00 (from $1.00) while maintaining a Buy rating.

The analyst comments "Flora 4Q (adjusted) was similar to 3Q. Legacy goodwill impairments are complete, marking the symbolic transition to a more streamlined/efficient organization. An early focus on Germany, highlighted by 2017 medical sales and a late 2022 acquisition of FGH, has positioned Flora to capitalize on legislative changes (home cultivation began April 1). Each of Flora's largest revenue contributors (JustCBD, Phatebo, and Vessel) are ~adj. EBITDA break-even. We reiterate our Buy rating, adjusting our price target to $7 (from $1 on stock split and lower estimates)."

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