Cowen initiates coverage on Clever Leaves citing growth prospects

Clever Leaves Holdings

23/07/2021 12:40

** Cowen & Co initiates coverage on medical cannabis
producer  CLVR.O  with "market perform" rating and PT of $10,
implying an upside of 10% from last close
    ** Sees attractive total addressable markets opportunities
for co as it could generate combined medical cannabis sales of
nearly $1.8 bln by FY22 for all its international markets
    ** Says CLVR has by far the lowest cost production in global
cannabis as it is benefited by outdoor production in good
climate geographies, as well as lower labor costs relative to
its Canadian peers
    ** Up to Thursday's close, stock had risen 1.9% YTD

 (Reporting by Amal S in Bengaluru)
 ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 3677;))