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High Tide Inc
Symbol HITI
Shares Issued 236,380,280
Close 2020-10-30 C$ 0.17
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Globe says Kideckel rates High Tide "speculative buy"

2020-10-30 08:34 ET - In the News

Also In the News (C-META) Meta Growth Corp

The Globe and Mail reports in its Friday, Oct. 30, edition that ATB Capital Markets analyst David Kideckel rates High Tide "speculative buy" in new coverage. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kideckel says he likes High Tide's (16 cents) "healthy growth outlook, keen focus on profitability, and attractive valuation." Mr. Kideckel says he expects High Tide's acquisition of Meta Growth (12.5 cents) to be completed and consistent growth to continue. As well, he expects the stock will rerate. Mr. Kideckel thinks High Tide currently trades an "attractive" fiscal 2021 enterprise value-to-revenue multiple of 0.7 times, given its above industry average revenue growth and margin profile. The analyst set a 60-cent share target for High Tide shares, exceeding the 50-cent average. Mr. Kideckel says in a note: "We are constructive on HITI's long-term prospects given our view on the market size potential of the Canadian cannabis market, the optionality stemming from the company's CBD and accessory segments, and its efficient operations. Our 'speculative buy' rating is due to the risks inherent to the Canadian cannabis retail landscape, which encompass significant regulatory risk."

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