Saying OrganiGram Holdings(NASDAQ:OGI) now has momentum following British American Tobacco's (NYSE:BTI) acquisition of almost 20% of the company, a pair of analysts see the marijuana grower's market share doubling by 2026.

The increased opportunity also caused the analysts, Rahul Sarugaser and Michael W. Freeman at Raymond James(NYSE:RJF), to double their price target for its stock to $6 per share Canadian ($4.78).

The global cigarette giant paid $176 million for some 58 million shares of OrganiGram, representing a 19.9% stake. Together they will establish a center at the pot grower's Moncton, New Brunswick, facility to develop new cannabis-based products.

The partnership also gives OrganiGram an opportunity to expand into the U.S. and new international markets, and it leaves open the possibility that British American could increase its ownership interest, perhaps even acquiring OrganiGram as the marijuana producer's financials are markedly improved by the deal.

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