Australia's Little Green Pharma holds strong market position -Canaccord

Little Green Pharma

31/07/2023 22:39

** Canaccord Genuity sees Australia's Little Green Pharma
 LGP.AX  as a "robust" and vertically integrated business 
    ** Brokerage says co has executed comparatively well for its
sector while still holding strong market positions in several
emerging jurisdictions   
    ** Canaccord says co's cash opex (operation expenditure)
fell 5% in the quarter ended June which supports brokerage's
expectation that the co could be cashflow positive on an
underlying basis within the next two quarters
    ** We are forecasting 73% revenue growth in FY24, a positive
EBITDA result, and a fully funded balance sheet- Canaccord 
    ** Brokerage maintains "speculative buy" rating, retains
A$0.28 price target
    ** Canaccord sees recent contract wins and collective order
book to help gain material revenue growth from European markets
over the next few periods for co 
    ** Stock has risen 2.8% this year, as of last close

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))