Shares of OrganiGram Holdings Inc. rose 2.3% in morning trading Thursday, after Oppenheimer analyst Rupesh Parikh started research coverage of the Canada-based cannabis company, with a perform rating. Parikh did not issue a stock price target. At Oppenheimer, a perform rating means the analyst expects the stock to perform “in line” with the S&P 500 within the next 12-to-18 months. “Over the past few quarters, the company has executed quite well generating positive EBITDA [earnings before interest, taxes, depreciation and amortization], which represents a standout performance amongst Canadian players,” Parikh wrote in a note to clients. “Early success in the Canadian market coupled with above-peer financial delivery gives us confidence in the company’s ability to further ramp from here.” However, he has a “muted” outlook for the stock in the near term, given industry headwinds, elevated analyst forecasts and increased risks associated with the advanced products launch given recent adverse press on vaping. The Nasdaq-listed stock has tumbled 39.8% over the past three months, while the ETFMG Alternative Harvest ETF has dropped 21.7% and the S&P 500 has gained 5.4%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.