(COMTEX) Hemptown Clothing Inc. Rated a Speculative Buy by eResearch Analyst with an I
itial Target Price of $US 2.30 ( Canada NewsWire )
TORONTO, May 26, 2004 (Canada NewsWire via COMTEX) -- Analyst Bill Campbell of
Independent Equity Research Corp. (operating as eResearch) has initiated
coverage on Hemptown Clothing Inc. (Nasdaq Bulletin Board - HPTWF.OB). In the
Report, which is free for a limited period of time on eResearch's website
www.eresearch.ca, the analyst noted that "Hemptown Clothing Inc. develops,
manufactures and sells a line of comfortable and durable activewear garments
using environmentally friendly materials. The Company's products are
manufactured from a proprietary blend of 55% hemp and 45% cotton fabric, which
reduces the negative environmental impact of producing a 100% cotton garment by
over 50%. The Company is also starting to develop a 100% hemp fabric which would
be competitive with cotton and have no negative environmental impact."
The analyst added "For 2004 eResearch expects Hemptown to achieve significantly
higher sales than in 2003 and to become profitable for the first time."
eResearch (Independent Equity Research Corp.) is an independent equity research
firm focused on under-covered, under-followed North American equities. It has
based its business model on that of the bond rating agencies and receives fees
from its subscribers and the companies it covers. It does not trade in the
securities of the companies it covers or accept any stock related compensation
for its research services. It conducts no investment banking, consulting or
investor relations services for the companies it covers. eResearch's sole
business is equity research. Hemptown paid eResearch a fee of $11,500 to conduct
research on it.
VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION:
newswire.ca
newswire.ca
CONTACT: For further information: Contacts: Hemptown Clothing Inc., Je
ry Kroll,
Chairman and CEO, (604) 255-5005, email: info(at)hemptown.com
Web site:
www.hemptown.com; eResearch., Robert Reid, (416) 643-7643, em
il:
rreid(at)eresearch.ca., Web site: www.eresearch.ca
News release via Canada NewsWire, Toronto 416-863-9350
Copyright (C) 2004 CNW, All rights reserved
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KEYWORD: TORONTO
INDUSTRY KEYWORD: TEX
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