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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (63899)	7/29/2019 9:01:51 AM
From: Goose94	Read Replies (1) of 203330

Can'tTrust (TRST-T) Canaccord Genuity analyst Derek Dley continues to rate Canntrust "hold," while trimming his share target to $2.50 from $5. Analysts on average target the shares at $5.63. Mr. Dley made the changes in the wake of Thirstday's management shakeup. Mr. Dley says in a note: "The news does not come as a surprise, given more detail coming to light in recent days regarding senior management's alleged awareness of the activities causing the company's non-compliance. Following the news, we believe it is now more likely than not that Health Canada will suspend Canntrust's license. While we believe Canntrust's physical assets may still be of value to other Canadian licensed producers, we do not anticipate the company being acquired in the near term given the uncertainty surrounding the penalty expected to be levied by Health Canada. Given that the company may no longer be able to sell its products and is not likely to be taken out by a competitor, we have reduced our target to our estimated value of the cash and physical assets per share. Our target reflects our estimated value per share of CannTrust's physical assets."

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