Indus: Canaccord Genuity raises target price following Q3'20 performance pre-announcement

Citing the benefits of increased scale for flower production as well as a shift toward a greater proportion of house products, US equity research firm Cannacord Genuity raised its price target for Merida portfolio company Indus Holdings, with an expectation of continued top-line growth and margin expansion in the coming quarters. In addition to strengthening demand in California, Indus will complete its production expansion, adding approximately 110K sq. feet of additional cultivation space and a 5x increase in annual production capacity vs. 2019.

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Cannacord Equity Indus 101420
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