The US broker said the shares were trading at a 50% discount to the sector after a torrid 2019 marred by profit warnings and a savage dividend cut
Highlands said the progress made by Zoetic since it established the cannabis business earlier this year has been "excellent”
The major shareholder committed to new investment earlier this month as Cabot detailed a broader 3p per share equity sale.
A disappointing two well programme was followed up with a monetisation programme, but Sound highlights that it is still confident in the Moroccan potential.
"We now look forward to working with Government and industry to deliver the next phases of MeyGen in partnership with world-leading data centre operators," said CEO Tim Cornelius