After reporting its third quarter financial results for December 31, 2017, GreenSpace Brands (GreenSpace Brands Stock Quote, Chart, News: TSXV:JTR) keeps its \u201cBuy\u201d rating from Beacon Securities analyst Doug Cooper, who says that FY19 is shaping up to be a huge year for the natural and organic foods company. This week, Toronto-based GreenSpace Brands\u2019 Q3\/FY18 results arrived in line with analysts\u2019 expectations, producing gross revenue of $16.3 million (versus $10.1 million for the same period a year ago), representing a 62 per cent increase. The company posted a net loss of $685,000 or one cent per share in comparison to a $926,000 loss or three cents per share a year ago. GreenSpace\u2019s year-on-year growth was a notable 29 per cent, three times the industry average, says Cooper, who attributes the success to strong organic growth from the company\u2019s existing portfolio (e.g., Love Child organic foods for infants and toddlers and Central Roast snack foods) but also from key acquisitions such as juice brands Kiju and Cedar. (GreenSpace also recently acquired Galaxy Nutritional Foods and its GoVeggie brand of products for $17.8 million, a deal which closed in late January and was not included in its Q3 report.) \u201cAside from entering new doors, we believe JTR\u2019s brands continue to growth within its existing footprint \u2013 as evidenced by its much better than industry average growth rate,\u201d says the analyst in a report to clients on Friday. Cooper has tweaked his forecast accordingly, estimating re\/EBITDA for FY18 at $65.2M\/$1.7M (from $69.1M\/$2.4M) and for FY19 at $102.1M\/$4.1M (from $102.2M\/$4.5M). \u201cWe continue to believe JTR is undervalued at ~1x sales,\u201d says the analyst. \u201cRecent acquisitions such as Hershey\u2019s purchase of Amplify and its Skinny Pop brand at 4x sales show that the sum of all JTR\u2019s brands is likely worth more than whole as reflected by the current stock price. For example, a market value for Love Child could equal the entire market cap of the company leaving all of its other brands as free options,\u201d he says. The analyst maintains his \u201cBuy\u201d rating and $2.65 target price, representing a one-year potential return of 85 per cent at the time of publication.