Analyst: Possibilities Endless For Sundial As Canadian Cannabis Retail Consolidates

On Friday, Sundial Growers Inc.’s (NASDAQ: SNDL) stock surged on reporting net earnings of CA$11.3 million ($9 million) in the third quarter of 2021 and positive adjusted EBITDA of CA$10.5 million.

The latest earnings report follows two major deals that the Calgary, Alberta-based company either announced or wrapped up.

In July, Sundial acquired Inner Spirit Holdings, known for its national network of Spiritleaf retail stores, only to reveal that it is also purchasing Canadian liquor retailer Alcanna Inc. for roughly $346 million.

Zach George, Sundial's CEO, says the company’s “financial condition has never been stronger."

“We expect that the achievement of our objectives will result in an aggregate base business that generates free cash flow in 2022," he added.

The company’s stock traded 8.9763% lower at 0.8376 per share at the time of writing Monday.

The Analyst

In his latest note published on Monday, Cantor Fitzgerald’s Pablo Zuanic reintroduced a 12-month price target for Sundial Growers’s …

Full story available on Benzinga.com

More Analyst: Possibilities Endless For Sundial As Canadian Cannabis Retail Consolidates