Village Farms International stock continues drop after multiple PT cuts

May 11, 2022 2:01 PM ETVillage Farms International, Inc. (VFF)By: Preeti Singh, SA News Editor2 Comments

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  • Village Farms International (NASDAQ:VFF) shares dropped ~9% Wednesday after multiple brokerages cut price target on the stock.
  • Craig Hallum lowered its target on the firm from $15 to $5, implying a 49% increase over the last closing price.
  • Cantor Fitzgerald also cut the target on VFF from $9.30 to $7.30, while maintaining an "Overweight" rating. The new PT implies a 117% increase from last closing price.
  • Raymond James, meanwhile, downgraded VFF's rating from "Strong-Buy" to "Outperform."
  • Shares are down ~9% to $3.07 today and have dropped 63% over the past year.
  • The company reported mixed Q1 results yesterday, topping revenue estimates but missing on bottom line.
  • "Village Farms remains one of the few Canadian cannabis stocks worth buying with profitable growth catalysts in 2022," said a bullish analysis published on SA in March.

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