Cronos Group is a BUY, say Stifel analyst

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Stifel analyst Andrew Carter upgraded Cronos Group to Buy from Hold with a price target of C$14.00, down from C$16.50. The analyst said Cronos is “unconstrained” in its ability to invest towards a $200B global opportunity with C$2B in cash on hand and resources of Altria Group (MO), Carter told investors in a research note.


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The analyst said he believes Cronos will show an “enhanced revenue growth profile” that leverages the distribution capabilities of Altria to build its U.S. CBD business and demonstrate “break-through product potential” in the Canadian vapor segment. Given the company’s “advantaged and enhanced position,

” investors should buy Cronos shares following their recent pullback”

said Carter

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