Left and right, Seaport Global is rolling back prices — or at least price targets — on Canadian cannabis stocks. (It’s kind of like a sale at Wal-Mart, but in a bad way). On Wednesday we looked at analyst Brett Hundley‘s price target cut on Hexo stock. Today, we’ll be taking a look at his “update” on Aphria (APHA).
In contrast to the Hexo report, which Hundley rushed out ahead of that company’s earnings, this update has no particular catalyst behind it — just a general feeling that the analyst has been too optimistic about marijuana companies’ prospects in general, and needs to his numbers to account for that fact.
Fact is, the bulk of Hundley’s update on Aphria focuses on good