Canaccord raises Sundial Growers PT, bullish on co's purchase of Alcanna

Nova Cannabis

12/10/2021 14:13

** Canaccord Genuity raises PT on cannabis company  SNDL.O 
after following its acquisition of Canadian alcohol retailer
Alcanna Inc  CLIQ.TO  for about C$346 mln last week  urn:newsml:reuters.com:*:nL4N2R42GE
 
    ** "This transaction is a step in the right direction for
Sundial as it provides the company with an established alcohol
retail chain ... while creating the largest cannabis retailer in
the country (Canada) at 170 locations active today"
    ** Canaccord raises PT to 80 cents from 75 cents     
    ** Sees opportunity for co to leverage consumer insights
data from combined retail platform to be relayed into R&D for
SNDL's branded products
    ** Adds that CLIQ has a 63% interest in cannabis retailer
Nova Cannabis Inc  NOVC.TO 
    ** SNDL, CLIQ up 42.6% and 36.2% respectively, YTD

 (Reporting by Anisha Sircar)
 ((anisha.sircar@thomsonreuters.com))