MedReleaf Corp Receives a Buy from Cowen & Co.

By Ryan Adsit

The NA sector company, MedReleaf Corp (TSX: LEAF), has received a rating update from a Wall Street analyst yesterday. Analyst Vivien Azer from Cowen & Co. rated MedReleaf Corp (TSX: LEAF) a Buy, setting a C$26 price target.

According to TipRanks.com, Azer is a 5-star analyst with an average return of 24.1% and a 73.6% success rate. Azer covers the Consumer Goods sector, focusing on stocks such as British American Tobacco, Constellation Brands Inc, and Craft Brewers Alliance.

Currently, the analyst consensus on MedReleaf Corp is Strong Buy and the average price target is C$27.50, representing a 23.6% upside.

In a report issued on February 1, GMP FirstEnergy also assigned a Buy rating to the stock with a C$35 price target.

MedReleaf Corp’s market cap is currently C$1.89B and has a P/E ratio of 0.

MedReleaf Corp. engages in the production and sale of medical cannabis. Its cannabis products include dried, oil, and oil capsules. The company was founded by Neil J. Closner and Eitan Popper on February 28, 2013 and is headquartered in Markham, Canada.

The company’s shares closed on Thursday at C$22.25.