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Cannabis Player Clever Leaves Could Have Almost 390% Upside Due To Overseas Exposure, This Analyst Says

  • Cantor Fitzgerald has initiated coverage on Clever Leaves Holdings Inc (NASDAQ: CLVR) with an Overweight rating and a price target of $4.50.

  • The stock offers better relative "pure-play" exposure to growth in overseas medical cannabis markets and eventually to recreational legalization in those markets, Cantor writes.

  • According to the analyst Clever Leaves, a large-scale, low-cost producer of pharmaceutical-grade cannabis, could be among the world's top five cannabinoid exporters by the end of 2023.

  • Also See: Clever Leaves To Ship First Export Of Cannabis To Israeli Partner InterCure.

  • G-7 producers dominate end markets like Germany, but CLVR management expects to gain market share as more markets open to Colombian and Portuguese THC flowers.

  • The company also benefits from several new distribution agreements, and its growth costs are sometimes one-tenth that of Canadian growers.

  • With only $2 million in cannabinoid exports, there is a "show me" story for now. Cantor models CLVR cannabinoid sales of $27 million by 2023.

  • The company has $27 million left in an equity facility that will be tapped in the months ahead. News flow about rec legalization in markets like Germany and Colombia may provide windows of opportunity for capital raises.

  • Price Action: CLVR shares are up 3.26% at $0.95 during the market session on the last check Monday.

Latest Ratings for CLVR

Date

Firm

Action

From

To

Dec 2021

Canaccord Genuity

Maintains

Buy

Nov 2021

Canaccord Genuity

Maintains

Buy

Jul 2021

Canaccord Genuity

Initiates Coverage On

Buy

View More Analyst Ratings for CLVR

View the Latest Analyst Ratings

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