10 Most Oversold Canadian Stocks to Buy According to Analysts

4. SNDL Inc. (NASDAQ:SNDL)

6-Month Performance: -28.50%

Number of Hedge Fund Holders: 12

Analyst Upside Potential: 115.73%

SNDL Inc. (NASDAQ:SNDL) is a prominent Canadian company operating in both the liquor and cannabis sectors. Under the Liquor segment, it operates a network of liquor stores under banners like Ace Liquor, Wine and Beyond, and Liquor Depot. These stores sell a variety of wines, beers, and spirits. Moreover, the company also operates retail cannabis stores under brands such as Spirit Leaf, Value Buds, and Firesale Cannabis.

In the fiscal third quarter of 2024, SNDL Inc. (NASDAQ:SNDL) Cannabis segment achieved its 11th consecutive quarter of revenue growth, posting an 8% year-over-year increase. On the other hand, Liquor retail revenue declined by 4.8% compared to the prior year due to weaker demand but showed quarter-over-quarter growth of $4 million. Moreover, the company achieved a record-breaking gross margin of 26.6%, driven by improvements in both Liquor retail and Cannabis operations. As per the management, the company remains on track to achieve positive free cash flow for the full year of 2024. It is one of the most oversold Canadian stocks to buy according to analysts.