The Chicago-based cannabis cultivator is best positioned out of all the US and Canadian cannabis companies to capitalize on the industry's growth prospects for next year, and the next decade, Cowen analyst Vivien Azer wrote in a Monday note.
Azer upped her price target on GTI to $30 per share, from $25 and maintained her Outperform rating. That's about 38% higher than where the stock closed on Friday, before Azer published her note. GTI was trading around $21.86 on Tuesday morning.— as well as in key markets like Illinois, Massachusetts, Pennsylvania, and New York, where lawmakers are pushing to legalize marijuana next year, Azer said.
Azer expects that if or when US cannabis companies are able to list on US exchanges, "it will lead to a favorable re-rating" and a major boost for investors in these stocks. "We view the greatest risk to our call being faster than expected price deflation from increased supply in core markets," Azer writes, adding that based on data from the early days of legalization in Illinois and Massachusetts, supply is expected to remain tight.
boom_cm
Check It out..!! I will make professional 3d logo animation videos Contact Me:
Amazing white folks say it’s illegal lock up people.. many even killed. Then when they feel like it. Say it’s legal and profit unimaginably off it.