Headline image: iStock.com/Tinnakorn Jorruang
Bank of America Merrill Lynch’s
“While clearly a high multiple even vs. peers, following recent [management] comments we have improved confidence [Cronos] is near announcing its US CBD launch, a potentially significant catalyst,” Carey wrote in a note to clients.
After Carey, Cowen analyst Vivian Azer seconded the buy label for Cronos seeing the company also entering the CBD market likely with topicals and vaporizer products, which might see less stringent regulations from the FDA after hearing commentary from the hearing last week.
Cronos is up 95% over a 12-month period and 49% since the start of the year. The launch of CBD only heightened investor enthusiasm as the company will leverage Altria’s
The Bank of America analyst estimated that CBD would crest over $11 billion by 2032. So, here is a look at all the current uses being explored as treatments for CBD (barring and food and beverage uses as we and others believe prohibitions are highly possible from the FDA).