PharmaCielo is a double, says GMP Securities

Cantech Letter, By Jayson MacLean, Sept. 26, 2019

GMP Securities analyst Robert Fagan says a first US sales agreement for cannabis oil extraction company PharmaCielo (PharmaCielo Stock Quote, Chart, News TSXV:PCLO) is a definite milestone for the company and one that came sooner than expected.

The analyst delivered a flash update on PharmaCielo to clients on Wednesday where he reiterated his “Buy” rating and C$12.00 target price, representing a projected one-year return of 118.5 per cent at the time of publication. …

Fagan says that with PCLO’s confirmation of its initial shipments of CBD isolate into the US it has confirmed an important tenet of the analyst’s investment thesis, namely that there exists a logistical pathway for PCLO to export CBD isolate into the US, a first for any Colombian licensed producer. …

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