The Valens (VLNS), a Canadian maker of cannabis products, announced Thursday a white-label partnership with Fire & Flower Holdings (FAF). FAF is a Canadian cannabis retailer that owns more than 90 stores across the country.
Under this agreement, Valens will manufacture Fire & Flower’s Revity CBD oil, its wellness-focused CBD private label brand, for distribution in Ontario, Manitoba, and Saskatchewan, with the potential to expand in other provinces and territories.
The cannabis manufacturer will formulate Revity CBD oil with its own proprietary processing methods. (See The Valens stock charts on TipRanks)
The Valens CEO, co-founder, and chair Tyler Robson said, “This strategic relationship allows us to strengthen and expand our wellness-focused manufacturing portfolio and provides the opportunity to further our partnership with one of the largest cannabis retailers in the country.”
On September 7, Raymond James analyst Rahul Sarugaser maintained a Hold rating on the stock, and lowered his price target to C$3 (from C$3.50). This implies 13.2% upside potential.
Overall, the consensus is that VLNS is a Strong Buy, based on three Buys and one Hold. The average The Valens price target of C$4.43 implies upside potential of 67.3% to current levels.
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