Cresco Labs gains on upbeat Q1 revenue

Cresco Labs

24/05/2023 17:15

** Cannabis producer Cresco Labs Inc's  CL.CD  shares rise
10.7% to C$2.49 
    ** Company posts Q1 revenue of $194.2 mln vs est $192.4 mln
- Refinitiv
    ** CL also posts 4% increase in Q1 retail transactions vs
last year
    ** However, company says its results were impacted by lower
performance in Illinois, leading to a decline in revenue
sequentially 
    ** 10 of 16 brokerages rate the stock "buy" or higher, 6
rate it "hold"; median PT C$4.5 - Refinitiv
    ** Including session's gains, company's shares up 2.4% YTD

 (Reporting by Sourasis Bose in Bengaluru)
 ((sourasis.bose@thomsonreuters.com))