Canaccord Genuity Sticks to Its Buy Rating for Cresco Labs (CRLBF)
Canaccord Genuity analyst Derek Dley maintained a Buy rating on Cresco Labs (CRLBF) yesterday and set a price target of C$11.50. The company’s shares closed last Thursday at $4.88.
According to TipRanks.com, Dley is a 4-star analyst with an average return of 4.6% and a 56.3% success rate. Dley covers the Consumer Goods sector, focusing on stocks such as Alimentation Couche Tard, Canadian Tire, and Primo Water.
Currently, the analyst consensus on Cresco Labs is a Strong Buy with an average price target of $9.59, implying an 88.0% upside from current levels. In a report issued on May 27, Cantor Fitzgerald also maintained a Buy rating on the stock with a $9.50 price target.
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The company has a one-year high of $11.99 and a one-year low of $1.94. Currently, Cresco Labs has an average volume of 717.9K.
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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.