CIBC analyst John Zamparo upgraded Hexo to Neutral from Underperformer with an unchanged price target of C$0.20, arguing that the 24% post-earnings selloff in shares "seemed mostly a product of a revenue miss." He supports a lower top line if it means focusing on only higher-margin SKUs and calls a "smaller, leaner business" a "positive."
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Published first on TheFly
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Read More on HEXO:
- HEXO notes company’s ‘ability to continue as a going concern’
- Hexo CFO says ‘substantially lowered’ overhead costs
- HEXO Reports Q1’23 Financial Results
- HEXO reports Q1 net revenue C$35.8M vs. C$50.2M last year
- HEXO Corp Announces Share Consolidation
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