Leafly "well positioned" for long-term growth - Cowen

Leafly Holdings

20/05/2022 14:01

** Cowen initiates coverage of cannabis-focused website
Leafly Holdings Inc  LFLY.O  with "outperform" and a PT of $12;
says LFLY has a leading online presence and is well positioned
for long-term growth
    ** LFLY rises 2.8% to $10.02 premarket, set to extend gains
to a second session after three straight days of losses 
    ** Cowen cites co's ability to deliver nearly double the
return on ad spend vs peers, driving better account growth 
    ** Says LFLY's software as a service model delivers a stable
over 85% gross margin, offering investors a differentiated way
to have exposure to cannabis
    ** LFLY comes at a lower price point and integrates
seamlessly with a retailer's existing business software stack,
creating opportunity for better paid penetration of brands on
LFLY's platform over time, brokerage says
    ** LFLY down 2.4% YTD as of last close

 (Reporting by Susan Mathew)
 ((susan.mathew@thomsonreuters.com))