No. 1 Wall Street pot analyst says the marijuana market will be much bigger than she first thought

With Canada about to legalize recreational use of marijuana, the industry’s rapid evolution and new strategic partnerships with mainstream brands reveal a far larger possible market for pot than investors and analysts first anticipated, according to Cowen.

“With cannabis, you’re talking about this massive step change in terms of the addressable market,” Vivien Azer said on CNBC’s “Squawk Box” on Wednesday. “You’re bringing a $7 billion illicit market into the legal market and so it does require a different valuation framework.”

Azer, the only pot analyst from a major Wall Street research house, nearly tripled her 12-month price forecast on Canadian marijuana producer Tilray this week to $172 from $62. The new target for the stock, which trades in the U.S. on the Nasdaq, implies more than 30 percent upside from current levels. She also upped her forecast on Canadian pot company Canopy Growth.

  • Publisher: CNBC
  • Date: 2018-10-10T10:07:19-0400
  • Author: Author link
  • Twitter: @CNBC
  • Citation: Web link

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And here’s another article:

Cannabis’ Wild Market Ride: It’s Not The New Bitcoin. Here’s Why

There are a few simple reasons for this. Because there are only a few publicly traded cannabis companies in the U.S., direct marijuana investments are limited. Making matters worse is that the company released a relatively small number of shares during its IPO. Also, with Canada set to legalize cannabis nationwide next week, it has set off a frenzy of interest among investors.

Combined, these factors have led to speculation and made the stock prone to wild price swings. As a result, some have compared Tilray and other companies like it to the fever that engulfed Bitcoin near the end of last year, when the price flirted with $20,000 before plummeting more than 60% in a matter of weeks.

  • Publisher: Forbes
  • Date: 2018-10-10
  • Author: Ross Gerber
  • Twitter: @forbes
  • Citation: Web link

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No. 1 Wall Street pot analyst says the marijuana market will be much bigger than she first thought

Just how big the market will get is tough to put a number on right now, but Azer cited a former Procter & Gamble executive in her report this week who estimated the market could be one day worth $500 billion.

“Our broader, big picture view of cannabis goes beyond the adult use launch in Canada,” she wrote in a report this week. “Rather, we believe this is the first step toward the establishment of cannabis as a key functional ingredient touching multiple consumer categories with four key verticals: adult use, beauty and nutraceuticals, OTC pain and sleep, and pharmaceuticals.”

The Only 2 Marijuana Stocks to Fall in September

The big day is nearly here. In just one week’s time, marijuana will officially be legal for purchase by adults in our neighbor to the north, ending roughly nine decades of prohibition on recreational cannabis. When legal, and the Canadian industry is fully up to speed, Wall Street will be looking for approximately $5 billion in added annual revenue, much of which will likely be generated via exports to foreign countries where medical weed is approved for use.

The optimism surrounding this expected surge in sales and profits is very much reflected in the price of marijuana stocks. Having screened for 30 of the most popular marijuana stocks that had a market cap in excess of $200 million, 28 of them moved higher in September, including three that more than doubled, and 18 in total that rose by a double-digit percentage. Investors could practically have thrown a dart at the industry and walked away a winner.

HP Stock Jumps To 18-Year High After Analyst Day Briefing

Personal computer and printer maker HP Inc. (HPQ) received positive marks for its analyst day presentation, helping HP stock jump to an 18-year high on Thursday.

At Wednesday’s event in New York, HP executives detailed their long-term strategy and provided a financial outlook for fiscal 2019, which begins Nov. 1.

HP stock rose 1.4% to close at 26.42 on the stock market today. During the regular trading session, it climbed as high as’27.08.’That’s its highest level since September 2000, during the dot-com bubble. HP stock hit a record high of 30.02 in July 2000.

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  • Publisher: Investor's Business Daily
  • Date: 2018-10-04T13:27:57-07:00
  • Author: pages Patrick Seitz 416937568420857
  • Twitter: @IBDinvestors
  • Citation: Web link

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