Echelon Wealth Partners analyst Andrew Semple reiterated a Buy rating on Trulieve Cannabis (TCNNF) on May 20 and set a price target of C$23.00. The company’s shares closed last Friday at $12.65, close to its 52-week high of $14.00.
According to TipRanks.com, Semple is a 4-star analyst with an average return of 40.0% and a 100.0% success rate. Semple covers the Industrial Goods sector, focusing on stocks such as Green Thumb Industries, Fire & Flower Holdings, and Cresco Labs.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Trulieve Cannabis with a $26.79 average price target, representing a 105.3% upside. In a report issued on May 12, Canaccord Genuity also maintained a Buy rating on the stock with a $35.00 price target.
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Based on Trulieve Cannabis’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $96.06 million and net profit of $14 million. In comparison, last year the company earned revenue of $44.48 million and had a net profit of $14.7 million.
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Trulieve Cannabis Corp. engages in the provision of medical cannabis products. The firm cultivates and produces its products in-house and distributes to its branded stores, as well as directly to patients via home delivery. Its products include smokable flower, inhalation, oral, sublingual, topical, inter-nasal, and concentrates. The company was founded on September 21, 2018 and is headquartered in Quincy, FL.
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