Flora Growth price target lowered to $4 from $5 at Roth MKM

Roth MKM lowered the firm’s price target on Flora Growth (FLGC) to $4 from $5 but keeps a Buy rating on the shares after its Q3 results this week. The company continues to re-balance its assets and offerings, following the transitional year that shifted its focus away from Colombian cultivation and toward more profitable U.S./European branded opportunities, and while net sales declined y/y and q/q, adjusted EBITDA loss actually narrowed from Q2, the analyst tells investors in a research note.