Maxim lowered the firm’s price target on cbdMD (YCBD) to $3 from $16 but keeps a Buy rating on the shares. The firm cites the company Q2 results missing its estimates on earnings and revenue along with its “significant share dilution”, the analyst tells investors in a research note. Maxim adds however that with improved marketing execution, a cleaner capital structure, and growing momentum across its diversified product portfolio, it believes that cbdMD is positioned to return to sales growth.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on YCBD: