WCVC Announces Goldman Small Cap Research Report With $0.17 Target PPS Recommendation
DENVER, CO -- October 7, 2019 -- InvestorsHub NewsWire -- West Coast Venture Group, Corp. (WCVC) ("WCVC") today announced the release of a research analyst report on the company’s restaurant and CBD operations from Goldman Small Cap Research. The report provides insight into both the company’s operations and the overall fast causal concept restaurant and CBD industries. Based largely on peer valuations, Goldman recommends a $0.17 target price for the shares of WCVC.
“Our price target of $0.17---a 7x increase from current levels, reflects current peer valuations for restaurant and CBD-infused product companies. On the CBD side alone, $5M in market value can be realized for every $1M in sales.”
WCVC’s reported over $3 million in sales last year in 2018 from the operations of its existing restaurants to include its flagship Illegal Burger. WCVC’s restaurant operations have continued to grow throughout 2019 and earlier this year, the company announced launching restaurant franchise sales in 31 states and work underway to launch in the remaining 19 states soon.
“WCVC is a contemporary restaurant chain that is marrying its core business with high-profile, and high-valuation, CBD-infused products. The Company seeks to gain market share in the $780 billion restaurant and $23 billion hemp-based CBD market, respectively.”
“WCVC’s fast casual restaurants emphasize some of the industry’s biggest trends. These include including offering sustainable, healthy foods for health-conscious customers.”
“Its restaurants include 5 Illegal Burger locations, a new Illegal Pizza location opened in 2019, and one Mexican restaurant. The Company has generated $1.8M in sales through 1H19 and could approach the $4M mark, by year-end, and approach $10M company-wide, next year.”
To view the full report visit www.goldmanresearch.com/WCVC
About West Coast Ventures Group Corp.
Based in Denver, Colo, West Coast Ventures Group Corp. (WCVC) is America's first CBD restaurant stock under Illegal Brands and operates a number of contemporary restaurant concepts including the flagship Illegal Burger a quick-casual burger + bar concept. Led by seasoned restaurant entrepreneurs, WCVC management is committed to scaling both modern sustainable concepts into national franchise models operating metro-styled restaurants serving only the finest and freshest natural ingredients.
This document may contain forward-looking statements, relating to West Coast Ventures Group Corp operations or to the environment in which it operates, which are based on West Coast Ventures Group Corp operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond West Coast Ventures Group Corp control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. West Coast Ventures Group Corp disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CEO West Coast Ventures Group, Corp.