DALLAS, December 15, 2015 /PRNewswire/ --
North American Cannabis Holdings, Inc. (USMJ) today announced a research report update published by Caprock Research with a ‘speculative buy’ recommendation, a near term target price per share of $0.15 and a long term target price per share of $0.55.
Caprock published its original report report on September 29th, 2015 initiating coverage with an ‘accumulate recommendation.’ Since the initial report, North American Cannabis Holdings filed its annual report for the fiscal year ended June 30, 2015 and its quarterly financial report for the three months ended September 31, 2014. These two reports reflect that through the acquisition of the Dallas Metroplex CityBlends Café, the company has acquired an annualized revenue stream of approximately $420,000 with estimated gross margins of 55 percent.
The analyst authoring the reported summarized the ‘speculative buy’ recommendation stating:
“The company’s stock has the potential to retrace recent price declines, and I believe that the foreseeable rewards now outweigh the longer term risks of investing in the company’s common stock. Consequently, I am upgrading my “Accumulate” recommendation to a “Speculative Buy” recommendation. This upgrade is predicated on the company being able to accomplish its planned balance sheet improvements, successful rollout of the Americanna Café concept, ability to attract additional capital, and execution of its business plan.”
The full report is available on the Company's website: http://www.growusmj.com.
Caprock Research has been engaged by North American Cannabis Holdings to conduct ongoing analyst research. Periodic updates are anticipated to be forthcoming.
About North American Cannabis Holdings, Inc.
North American Cannabis Holdings, Inc. (USMJ) is founded on the core belief that cannabis makes people's lives better. Cannabis can fight disease, improve wellness and do so in an environmentally sustainable manner. North American Cannabis Holdings is dedicated to finding the best possible applications for cannabis to serve consumers. For more information please visit http://www.growusmj.com.
Follow the company on Twitter: http://twitter.com/US_HEMP.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.