The momentum in CGC continued today as the company beat FY20 earnings expectations plus they paid down more debt than we thought they would – the shares up almost 13% as a consequence.
For the year, CGC produced normalised earnings of $140m which was ahead of the $130m expected., plus importantly, they broad down net debt to $144m which was a good outcome. We clearly got off the CGC bus too early, however our new position in A2M has rallied, just not as far!
MM are now neutral CGC
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