The AltaCorp Capital analyst David Kideckel has issued a report on the 2nd wave of legalization of cannabis that will be in force in a few days is the 17 October 2019
David Kideckel, says that the launch of cannabis derivatives such as edibles, drinks, vapes and topicals marks an inflection point in the development of the Canadian market.
Currently, HEXO is developing various product formats including soft gel capsules, vapes, topicals, edibles, and beverages in order to be well-positioned for when these product categories come online. HEXO’s current products have been well received, winning multiple Canadian Cannabis awards, including 2018 Cannabis Product of the Year and Innovation of the Year with its Elixer CBD peppermint sublingual sprayKideckel writes.
The analyst estimates that cannabis derivatives will form 24 per cent of HEXO’s total revenue in fiscal 2020 and 34 per cent in fiscal 2021.
He holds an “Outperform” rating on the stock with a target of $10.40
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