OrganiGram jumps as Stifel upgrades to 'buy'

Organigram Global

13/01/2023 16:49

** Shares of Canadian cannabis firm OrganiGram Holdings Inc
 OGI.TO  up 10.8% at C$1.33 as brokerage Stifel upgrades to
"buy" from "hold"
    ** Stock set to see its best day in more than three months,
if gains hold
    ** Company on Thursday said it sees fiscal 2023 revenue to
be higher than fiscal 2022
    ** OrganiGram has "brighter prospects" with a sustainable
business - Stifel
    ** "Given the current environment of starved profitability
in the Canadian industry, OGI could attract meaningful fund
flows," brokerage says
    ** Six of 11 brokerages rate the stock "buy" or higher, 5
"hold"; median PT is C$2 - Refinitiv
    ** Stock has fallen 50.5% in 2022
 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))