Cowen expects Clever Leaves to remain unprofitable at core earnings level
28/03/2022 12:28
** Shares of medical cannabis producer Clever Leaves
Holdings Inc CLVR.O slide 21% premarket to $3.02, after more
than doubling on Friday due to strong Q4 revenue urn:newsml:reuters.com:*:nL3N2VS2IM
** Cowen and company cuts PT to $4 from $6, saying gross
margins will decrease in 2022 due to sharpened focus on the
lower-margin cannabinoid business
** Median PT is $5.50 - Refinitiv data
** Cowen expects CLVR to remain unprofitable on an adjusted
core earnings basis in FY22 and FY23
** Shares set for worst session since debuting in December
2020; YTD, CLVR up 24%
(Reporting by Susan Mathew in Bengaluru;)
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