The British Columbia-based greenhouse grower reported its first-quarter earnings in May with consolidated revenue of $52.4 million, up by 63% from the same period in 2020, and positive adjusted EBITDA. The company’s consolidated earnings figures included Pure Sunfarm’s financial results, which the company acquired in November 2020.
Cantor Fitzgerald’s Pablo Zuanic kept a “Neutral” rating on Village Farm’s stock and raised their price target to $11.50 from $8.70.
Based on reports through the end of May, Pure Sunfarms has been continually advancing market share, having 7.3% on the national level. The company also posted 24% sequential growth of branded adult-use sales in the first quarter, compared to the market single-digit growth, explained Zuanic in a Monday note.
Furthermore, the company’s leadership aims to obtain a …