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Roots Corp
Symbol ROOT
Shares Issued 40,247,614
Close 2024-04-12 C$ 2.40
Market Cap C$ 96,594,274
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Globe says TD's Morrison boosts Roots to "buy"

2024-04-12 07:36 ET - In the News

The Globe and Mail reports in its Friday, April 12, edition that TD Cowen analyst Brian Morrison has elevated his recommendation for Roots to "buy" from "hold" with an unchanged share target of $3.25. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $3.12. Mr. Morrison says in a note, "[Wednesday's] quarterly results exceeded expectations illustrating Roots brand strength/resiliency, the strong annual FCF has the balance sheet in a financial position of strength, the valuation with the share price decline as compelling, in our view, and we maintain there is a free option with respect to a potential monetization event." The Globe reported on Sept. 17, 2022, that Scotia Capital rated Roots "sector perform" when it could be had for $3.05. The Globe reported on Dec. 13, 2022, that RBC had reaffirmed its "sector perform" call for Roots when it was worth $2.35. The Globe reported on April 7, 2023, that BMO Capital Markets analyst Stephen MacLeod continued to rate Roots "market perform." The shares were then going for $2.91.

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