TGOD Stock: Analysts are Predicting a 48% Potential Upside Ahead

TGOD stock

TGOD stock is selling for $4.82 CAD on the TSX at present. But analysts are watching closely, and an average price target suggests that The Green Organic Dutchman (TSX:TGOD)(OTCQX:TGODF) has potential upside ahead.

TGOD Stock: Is there Upside Ahead?

Unlike many of its peers, TGOD stock has yet to hit a major US exchange such as the NYSE or NASDAQ. As such, trading on the OTCQX in the US can belie this company’s potential. None-the-less, the company’s somewhat different approach to the cannabis industry has made an impression on analysts.

The Green Organic Dutchman is placing focus on the high-end marijuana market or “craft cannabis” market.

According to The Motley Fool:

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“The company is aiming at the high end of the marijuana market, touting its organic product line and seeking to maintain premium pricing from customers who are willing to pay up for quality.”

It’s not a bad idea. Focusing on a niche may allow it to be recognized as a brand leader in high-quality cannabis products. A case of quality over quantity perhaps. Artisan and craft culture equates to booming business in foods and alcohol; cannabis may soon be the exact same.

>> HEXO Stock: These Cannabis Shares are an NYSE Top Performer

Analyst Opinion

Analysts at Jeffries, Seaport Global, Fundamental Research Group, and Canaccord Genuity are currently watching TGOD stock. According to MJObserver, the average price target set by these four groups is $7.175 CAD per share. Looking at the current price of $4.82 CAD, this represents a potential upside of 48.86% for TGOD stock.

Of course, that’s if these analysts are to be correct.

It’s a very plausible upside if TGOD stock continues its trend, which has seen shares already climb over 80% on a year-to-date basis.

The Grower’s Circle Launch

Most recently, the international cannabis producer has begun shipments of its “certified-organic” medical-grade cannabis for medical patients across Canada. According to the press release “The Growers’ Circle is a select group of patients across Canada now receiving TGOD’s first certified-organic flower.” This launch is a “limited production rollout of the Company’s premium product.” Effectively, TGOD will ramp-up production later this year following this initial run of its exclusive product.

Are you a TGOD stock investor? Do you get excited when analyst consensus shows a significant potential? Or do you take analyst opinion with a pinch of salt?

>> Read More Green Organic Dutchman News

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