In a report released yesterday, Derek Dley from Canaccord Genuity maintained a Buy rating on Cresco Labs (CRLBF), with a price target of C$20.50. The company’s shares closed last Tuesday at $12.08, close to its 52-week high of $12.36.
According to TipRanks.com, Dley is a 5-star analyst with an average return of 14.0% and a 60.9% success rate. Dley covers the Consumer Goods sector, focusing on stocks such as Alimentation Couche Tard, Canadian Tire, and Primo Water.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cresco Labs with a $15.10 average price target, implying a 25.8% upside from current levels. In a report issued on January 6, Echelon Wealth Partners also maintained a Buy rating on the stock with a C$16.00 price target.
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The company has a one-year high of $12.36 and a one-year low of $1.94. Currently, Cresco Labs has an average volume of 873.4K.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRLBF in relation to earlier this year.
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Cresco Labs Inc is a Canada based company engaged in the production and sale of cannabis. The company distribute its products to dispensaries nationwide, including several dispensaries owned and operated by its team. Its product includes Reserve, Remedi, Mindy’s. All the revenues of the company were generated in the United States. It has ownership interests in Illinois, Pennsylvania, Ohio, California, Maryland, and Arizona.