Aphria (Aphria Stock Quote, Chart, News TSX:APHA) shares sold off sharply after its latest quarterly earnings, but the dip makes for a good entry point, says Haywood Capital Markets analyst Neal Gilmer, who considers Aphria the leader among Canada’s cannabis companies.
In an update to clients on Friday, Gilmer reviewed the quarterly numbers and reiterated his “Buy” rating
for the stock.
Aphria’s shares dropped almost 18 per cent on Thursday as the licensed cannabis producer delivered its fiscal first quarter 2021 ended August 31, 2020. Net revenue came in at $145.7 million, which was up 16 per cent from a year earlier but down four per cent from the prior quarter. Aphria chalked up the sequential decline to lower distribution revenue due to the COVID-19 pandemic. (All figures in…