Organigram target adjusted to C$2.25 at Alliance Global after earnings, split

Alliance Global Partners analyst Aaron Grey adjusted the firm’s price target on Organigram to C$2.25 from C$1 and keeps a Neutral rating on the shares after the company reported fiscal Q3 sales and EBITDA well below the firm’s and Street’s estimates. Changes to Israeli law temporarily impacted international sales and the company called out THC-inflation as having impacted gross margins as Organigram had to lower flower prices. The firm’s adjusted target also takes into account the company’s recent 4-for-1 reverse stock split, the analyst noted.