Aphria Inc (OTCQB:APHQF) has been making several important moves to strengthen its position in U.S. and Canadian markets. Investors and analysts are also applauding its business growth strategies and investments in inorganic growth opportunities to expand their market share. Its stock price rose 21% in the last month alone.
APHQF stock trades around $10 at present. Analysts are providing a ‘Buy’ rating for Aphria. Jason Zandberg has issued a ‘Buy’ rating for Aphria stock with the price target of $26. The Wall Street analysts have the consensus mean price target of $24 for APHQF stock.
Partnerships and Supply Agreements
Combined with investments in organic growth opportunities, Aphria plans to accelerate its strategic partnerships and acquisitions. It has recently reported a supply agreement with a Colombia-based pharmaceutical import and distribution company, Colcanna SAS, to increase its market penetration in the Colombian market.
Before an agreement with Colcanna SAS, Aphria has also signed an accord with Great North Distributors – which will work as manufacturer’s representative for Aphria adult-use cannabis products throughout Canada.
The company is likely to deliver its first cannabis shipment in Australian market due to the supply agreement with Althea Company Pty Ltd.
Vic Neufeld, CEO of Aphria said, “Looking ahead, our focus remains on exploring strategic opportunities and partnerships globally while continuing our extensive preparations for the coming legalization of the adult-use market in Canada. All told, Aphria continues to solidify its standing as a market leader in Canada and as a leading player on the international stage.”
Acquisitions are Fueling Revenue Growth
The company’s revenue rose around 100% in the latest quarter, and it has reported positive EBITDA in the past ten straight quarters. It is aggressively working on the plan to acquire small companies that are aligning to its business model. The cannabis grower and producer have completed two major acquisitions in the latest quarter. These acquisitions include Broken Coast Cannabis Ltd and Nuuvera Ltd.
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