In a report released today, Matt McGinley from Needham initiated coverage with a Buy rating on Green Thumb Industries (GTBIF) and a price target of $11.00. The company’s shares closed last Monday at $7.32.
According to TipRanks.com, McGinley is a 3-star analyst with an average return of 7.4% and a 50.0% success rate. McGinley covers the Industrial Goods sector, focusing on stocks such as Curaleaf Holdings, Trulieve Cannabis, and Aurora Cannabis.
Currently, the analyst consensus on Green Thumb Industries is a Strong Buy with an average price target of $13.03, which is an 85.7% upside from current levels. In a report issued on April 13, Beacon also reiterated a Buy rating on the stock with a C$24.00 price target.
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The company has a one-year high of $15.42 and a one-year low of $3.70. Currently, Green Thumb Industries has an average volume of 366.7K.
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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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