Craig-Hallum upgrades Village Farms on profitability of produce

Craig-Hallum upgraded Village Farms to Buy from Hold with an unchanged price target of $1. Village Farms, via its wholly owned subsidiary Pure Sunfarms, is a leading licensed cannabis producer in Canada, with top-two market share and “unmatched” profitability, the analyst tells investors in a research note. The analyst sees the company as one of the “best bets in cannabis” given its “significant multi-year growth opportunities” for cannabis in Canada, the U.S. and internationally. In addition, Village Farms’ return to sustainable profitability of produce significantly reduces dilution risk and simplifies the story, contends Craig-Hallum.