SLANG Worldwide Cannacord Raises FY2020 Revenue Estimates Following Q2 Earnings

SLANG Worldwide (CSE: SLNG) announced their second-quarter financials yesterday, with revenue coming in at $4.6 million, basically flat quarter over quarter, and their Pro-forma revenues were $10.1 million. Slang also had an adjusted EBITDA loss of $1.8 million, with gross margins of $2.8 million or 62%.

Only three analysts cover SLANG, and all three analysts have buy ratings on the stock. M Partners has the highest 12-month price target of C$0.5,0 or a 285% upside, while Clarus Securities has a C$0.45 price target, and Canaccord has the lowest of all three with a C$0.40 target. The mean price target equals out to being C$0.45, or a 246% upside on the stock.

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