In a report released today, Matt Bottomley from Canaccord Genuity maintained a Buy rating on Green Thumb Industries (GTBIF), with a price target of C$20.00. The company’s shares closed last Monday at $6.59.
According to TipRanks.com, Bottomley is a 1-star analyst with an average return of -2.9% and a 40.3% success rate. Bottomley covers the Healthcare sector, focusing on stocks such as Harvest Health & Recreation, Curaleaf Holdings, and Aurora Cannabis.
Currently, the analyst consensus on Green Thumb Industries is a Strong Buy with an average price target of $15.71, a 144.3% upside from current levels. In a report issued on March 24, Echelon Wealth Partners also reiterated a Buy rating on the stock with a C$20.00 price target.
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Based on Green Thumb Industries’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $67.99 million and GAAP net loss of $17.13 million. In comparison, last year the company earned revenue of $17.17 million and had a GAAP net loss of $3.34 million.
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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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