Aphria Stock Rises 6% on Influential Analyst Recommendation
Aphria (NYSE: APHA) saw a pleasant bump in stock price at the end of the week following a recommendation upgrade from a top analyst who follows the company. On Thursday, Bank of America (NYSE: BAC) prognosticator Christopher Carey upped his view on the company to buy from the previous neutral.
This was due, Carey wrote in a research note, to factors such as the cannabis company's relatively large cash position and its recent success in growing market share. The Bank of America analyst also cited Aphria's "defensiveness" as an investment, thanks to its strong involvement in the higher-margin medical cannabis segment.
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Source Fool.com
