Cannabist Company downgraded to Hold from Speculative Buy at Canaccord

Canaccord downgraded Cannabist Company (CBSTF) to Hold from Speculative Buy with a price target of C$0.10, down from C$0.40, following Q4 results that came in “meaningfully lower than our expectations.” The firm now has a clearer picture of what the company’s size/scale looks like following asset divestitures in Virginia, Arizona, and Florida the past two quarters and believes managing the longer-term viability of its balance sheet will be “extremely difficult given the current market environment.”