In a report released yesterday, Austin Moeller from Canaccord Genuity maintained a Buy rating on Cibus (CBUS – Research Report), with a price target of $18.00.
Austin Moeller has given his Buy rating due to a combination of factors that highlight Cibus’s promising advancements and strategic leadership changes. The company’s recent announcement regarding its Sclerotinia resistance trait in Canola, which has shown enhanced resistance in controlled testing, indicates significant progress in its agricultural biotechnology efforts. This development is part of Cibus’s broader strategy to improve crop yields and reduce reliance on chemical fungicides, offering a compelling value proposition for farmers.
Furthermore, the transition in leadership, with Peter Beetham stepping in as interim CEO, is seen as a positive move for the company’s shift from research and development to commercialization. The leadership change is part of a planned succession as the company gears up for future commercial launches, including the anticipated release of its Sclerotinia resistance trait in 2029. While the commercial launch is still a few years away, the ongoing developments and strategic focus on sustainable agricultural solutions underpin the Buy rating, with a price target of $18.