APH – Aphria Fiscal Q1/18 Forecasts

Aphria is expected to report its fiscal Q1/18 (three months ended August 31^st 2017) results tomorrow.

Below are our expectations for results:

Q1/18 Forecast

Kilograms sold should continue to track (and maybe beat) revenue growth

After a low cash cost per gram of $1.11 last quarter, we believe Aphria will be able to maintain and see no major movement in cash costs

We expect a slow down in EBITDA from last quarter but still enough to make it Aphria’s eighth consecutive quarter of positive EBITDA

We believe investors should continue buying Aphria’s shares up until about $8. We are maintaining our buy recommendation.

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