Charlotte\\\'s Web Holdings (CWEB:CN) (CWBHF) PT Lowered to Cdn$28 at PI Financial
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PI Financial analyst Jason Zandberg lowered the price target on Charlotte\\\'s Web Holdings (CWEB:CN) (OTC: CWBHF) to Cdn$28.00 (from Cdn$30.00) while maintaining a Buy rating.
Analyst says: "Charlotte’s Web checks all three boxes for our criteria for success 1) market share lead for CBD products, 2) strong cash position of US $51.4M and 3) positive cash flow generation in its recent quarter. CWEB reported the second highest operating cash among all US cannabis companies in Q2 behind Trulieve as it reported US$3.3M in cash flow. Our target represents an EV/EBITDA of 14x based on our FY21 estimates (unchanged)."
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