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Auxly Cannabis Group Inc
Symbol XLY
Shares Issued 836,607,134
Close 2021-08-18 C$ 0.255
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Globe says Auxly Cannabis valuation called "attractive"

2021-08-18 08:55 ET - In the News

The Globe and Mail reports in its Wednesday, Aug. 18, edition that ATB Capital Markets analyst Frederico Gomes raised his rating for Auxly Cannabis Group to "outperform" following the release of "strong" second quarter results, seeing its valuation as "attractive" versus his fair value estimate. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gomes continues to target the shares at 45 cents, which is 10 cents under the consensus. Mr. Gomes says in a note: "Despite the headwinds in Canada, Auxly has gained 182 basis points in market share this year, validating our thesis that the company has a robust and diversified platform to continue driving sales growth. In particular, we believe that Auxly is well-positioned to increase cannabis 1.0 sales given that the company is under-indexed in this segment, has a strong pipeline of products, and is ramping flower production at Sunens and pre-roll production at Kolab. Auxly guided for positive adjusted EBITDA by the end of 2021, which according to management implies a market share of 7 to 9 per cent, cash SG&A of $10-million a quarter, and an adjusted gross margin of more than 30 per cent."

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