- Modest outperformance with Q1/22 results.
- Estimates unchanged with an anticipated 2H ramp on cultivation capacity expansion.
- Vext is sufficiently financed to fund AZ growth initiatives.
- Expect Ohio to become a meaningful part of business in near term. Likely to convert early JV relationship to fully owned operation. Contributions to be incremental to our forecasts.
- Discounted valuation despite attractive fundamentals. Price target puts multiples in line with peer group while a takeout or the benefit of any broader market gains offer meaningful upside potential.
For further details see:
Vext Science Inc. Outperforming In Arizona