Emerging Growth Research Releases Flash Report on First Phosphate; Reiterates Buy Rating and C$4.94 Price Target Following Nasdaq Uplisting
Emerging Growth Research reiterated a Buy rating and C$4.94 price target for First Phosphate, citing its recent Nasdaq uplisting and strengthened liquidity position. The firm highlighted that the company has over C$30 million in cash and access to approximately C$21.5 million in non-repayable federal funding, providing an estimated 24-36 month runway.
Key figures
- Cash on hand
- > C$30 million
- Price target
- C$4.94
- Adr outstanding
- ~1.3 million
- Additional funding
- C$4.84 million
- Funding runway months
- 24-36
- Government funding total
- ~ C$21.5 million
AI analysis
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