Brokerages upbeat on Green Thumb's future growth

Green Thumb Industries

29/02/2024 16:01

(Updates)
    ** Brokerages remain positive on cannabis packaged goods
firm Green Thumb Industries'  GTII.CD  long-term outlook after
co reports Q4 revenue beat
    ** GTII reports Q4 rev of $278 mln, beating analysts' avg
est of $270 mln - LSEG data
    ** Shares up 3.9% at C$17.8
    ** At least two brokerages raise PT
    ** Brokerage Echelon Capital Markets says co is
well-equipped to weather near-term market headwinds; raises PT
to C$23 from C$21
    ** "Expect it will be able to absorb further market share as
capital-starved privately held companies gradually exit the
industry," says Echelon
    ** Alliance Global Partners sees several positive catalysts
in future, including ramping of New York adult-use sales, start
of sales in Ohio and Minnesota and potential legalization in
other U.S. states; raises PT to C$25 from C$23
    ** All 14 brokerages covering GTII rate the stock "buy" or
higher; their median PT is C$23.5 - LSEG data
    ** Stock has risen 19.6% so far this year

    ($1 = 1.3550 Canadian dollars)
  

 (Reporting by Kabir Dweit)
 ((Kabir.Dweit@thomsonreuters.com;))