PI Financial upgrades target to $26.00

Investor sentiment toward the cannabis industry continues to be weak. During the day on August 1, Aphria sank 8.2%, closing at 10.60 Canadian dollars, while its peers Canopy Growth (WEED) and Aurora Cannabis (ACB) (ACBFF) fell 2.2% and 2.6%, respectively. Tilray (TLRY), which debuted on July 19, closed 2.2% higher that day. Year-to-date, Aphria has fallen 43%, while the benchmark index Horizons Marijuana Life Sciences ETF (HMMJ) has fallen 23.7%.

Despite Aphria reporting losses, PI Financial upgraded its price target for the stock to 28 Canadian dollars from 26 Canadian dollars. That target would give an upside of almost 164%. The stock has a “buy” rating.

https://marketrealist.com/2018/08/aphria-reports-quarterly-loss-pi-financial-raises-price-target

Globe says Aphria commits $15M to Green Acre Capital

Aphria Inc (C:APH)
Shares Issued 232,005,434

Last Close 8/2/2018 $10.49
Friday August 3 2018 - In the News

The Globe and Mail reports in its Friday edition that demand for private-equity investments in the cannabis sector remains high as Canada's legalization of recreational marijuana approaches. The Globe's Jeffrey Jones writes that Calgary's Green Acre Capital has received commitments of $35-million from the likes of Aphria, Brett Wilson and Saskatchewan cannabis funding firm York Plains Investment. Aphria is the largest contributor, committing $15-million.

 Its chief executive officer, Vic Neufeld, is on Green Acre's advisory board. Green Acre's first fund invested $25-million in 12 companies, with a focus on small firms offering ancillary products and services, such as cultivation technology, software and retail brands, notably Tokyo Smoke. 

"The cultivation side is a challenging, competitive market and what we observe in the legal U.S. states is that the pricing of cannabis tends to drop pretty sharply in those competitive markets," Green Acre managing director Tyler Stuart said. "So we decided to focus on all of the infrastructure around those growers. We found there's a lot of opportunity and the valuations are quite good." In addition, there is less competition for such investments, Mr. Stuart said.

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