Canaccord Genuity Keeps a Buy Rating on Green Thumb Industries (GTBIF)

In a report issued on March 16, Matt Bottomley from Canaccord Genuity maintained a Buy rating on Green Thumb Industries (GTBIF), with a price target of C$6.00. The company’s shares closed last Tuesday at $29.35, close to its 52-week high of $29.92.

According to, Bottomley is a 5-star analyst with an average return of 32.6% and a 56.1% success rate. Bottomley covers the Basic Materials sector, focusing on stocks such as Harvest Health & Recreation, Vireo Health International, and OrganiGram Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Green Thumb Industries with a $31.79 average price target, which is a 7.8% upside from current levels. In a report issued on April 28, Needham also initiated coverage with a Buy rating on the stock with a $11.00 price target.

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Green Thumb Industries’ market cap is currently $6.25B and has a P/E ratio of -265.00. The company has a Price to Book ratio of 62.97.

Based on the recent corporate insider activity of 103 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 GTBIF in relation to earlier this year.

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Green Thumb Industries is headquartered in Chicago, Illinois, and produces and sells medicinal and recreational cannabis through wholesale and retail channels in the United States. It has a presence in 12 states and operates over 30 cannabis stores under the chains Rise and Essence. Green Thumb is focusing its expansion on limited license states with large populations, and it does not currently export into the global medical market due to U.S. federal prohibition. It offers multiple products under a portfolio of cannabis consumer packaged goods brands, including Dr. Solomon’s, Dogwalkers, and Beboe.

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