Home Markets Auxly Cannabis is eating up market share, says Research Capital

Auxly Cannabis is eating up market share, says Research Capital

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Research Capital Corporation analyst Venkata Velagapudi likes what he sees from Auxly Cannabis (Auxly Cannabis Stock Quote, Charts, News, Analysts, Financials TSX:XLY), reiterating a “Buy” rating and target price of $0.50/share for a projected return of 138 per cent in an update to clients on Monday.

Originally founded in 1987 as Cannabis Wheaton Income Corp. before changing its name in 2018, Auxly Cannabis is a Toronto-based consumer-packaged goods company in the cannabis products market in Canada with a focus on developing, manufacturing and distributing cannabis products for wellness and recreational consumers.

Velagapudi’s latest analysis comes after the company’s Monday announcement in its third quarter financial report that it expects to increase its market share within the Canadian recreational cannabis industry.

“Auxly continues to make strides towards reaching its goal of achieving seven to nine per cent share of…

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