3 "Strong Buy" Cannabis Names To Add To Your Portfolio For 2021

: APHA | Aphria Inc. Common Shares News, Ratings, and Charts

The COVID-19 pandemic has to a degree benefited the cannabis industry. Cannabis sales hit a new high earlier this year, as lockdown measures pushed people to replenish their stockpiles. According to an article published in The Guardian, “34 states and two territories now approve marijuana for use as a medicine. Fifteen states, two territories plus Washington DC accept its use for recreation.” With the majority accepting the use of cannabis legally, the industry is expected to thrive.

Moreover, a Biden administration is expected to be a boon for the US cannabis industry. Though it’s unlikely that he’ll legalize marijuana federally, allowing states to set their own cannabis policies could significantly help cannabis companies get more access to capital and other benefits.

Given this background, Aphria Inc. (APHA - Get Rating), Cronos Group Inc. (CRON - Get Rating), and Canopy Growth Corporation (CGC - Get Rating) could witness significant upside in the near term.

Aphria Inc. (APHA - Get Rating)

APHA is an international producer, processor, and distributor of medicinal and recreational cannabis. The company produces cannabis-derived extracts and derivative cannabis products under the brand names Solei, RIFF, Good Supply, and Aphria.

On November 30th, APHA announced the strategic acquisition of SW Brewing Company. This will further diversify APHA’s product offering, expand its addressable market and broaden its consumer reach.

On November 26th, the company announced the expansion of its 510 Vape offering across its award-winning adult-use brand portfolio. This will help APHA meet the increasing demands to generate higher revenue in the upcoming quarters.

APHA’s revenue increased 15.5% year-over-year to $112.60 million in its fiscal third quarter ended August 2020. Gross profit rose 65.7% from the year-ago value to $58.17 million over this period.

The consensus EPS estimate for the fiscal period ending May 2021 indicates a 75.9% increase year-over-year. The consensus revenue of $524.04 million for the next year indicates a 28.7% increase from the same period last year. The stock has gained 46.6% year-to-date.

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