Village Farms price target lowered to $3 from $6 at Alliance Global Partners

Alliance Global Partners analyst Aaron Grey lowered the firm’s price target on Village Farms to $3 from $6 and keeps a Buy rating on the shares after updating its model to account for the company’s recent equity raise and anticipated Q4 trends. Continued cash burn from produce caused the company to raise capital, but Alliance has viewed Village Farms as "more of a tortoise (vs hare) play on cannabis" and continues to see it demonstrating the most consistent share performance over the past two years among Canadian LPs.