Sign in

    Vivien Azer

    Managing Director and Senior Research Analyst at Cowen and Company

    Vivien Azer is a Managing Director and Senior Research Analyst at TD Cowen, specializing in coverage of the beverage, tobacco, and cannabis industries. She follows leading companies such as Philip Morris International, Constellation Brands, and Boston Beer Company, and is recognized for her strong track record, including a 54% success rate and an average return of 8.5% per recommendation over the past year, with standout calls like a 617% return on Canopy Growth. Azer joined Cowen in 2014 after a successful tenure at Citigroup, and she notably launched the firm's cannabis sector coverage in 2016, making her one of the first analysts from a major investment bank to do so. She holds relevant securities licenses and maintains active FINRA registration, frequently earning high analyst rankings on platforms like TipRanks.

    Vivien Azer's questions to Intercure (INCR) leadership

    Vivien Azer's questions to Intercure (INCR) leadership • Q4 2022

    Question

    Vivien Azer inquired about the competitive dynamics in the Israeli market, specifically the product mix by price point and the drivers behind recent gross margin degradation. She also asked about the potential for margin recovery and the expected impact of international expansion on future margins and overall progress.

    Answer

    CEO & Director Alexander Rabinovitch explained that the Israeli market is approximately 70% high-quality products, a mix reflected in InterCure's portfolio. He attributed the Q4 margin pressure to competitors liquidating inventory at low prices, a trend he expects to resolve by the second half of 2023. Rabinovitch noted that international expansion into higher-priced markets like Germany and the UK should have a positive impact on gross margins as the company scales its operations there, following a careful, proven strategy.

    Ask Fintool Equity Research AI