Legal cannabis now 'formidable' competitor to alcohol in U.S.- Cowen

Green Thumb Industries

02/12/2022 11:39

** Brokerage Cowen expects cannabis to gain four times the
number of consumers as alcohol over the next 5 years in U.S.
    ** Says legal cannabis sales are now 1/10th of the size of
alcohol in the country, boosted by states' legalizations
    ** Consumers between the age of 18 and 25 are increasingly
embracing cannabis use and tempering alcohol consumption - Cowen
    ** Sees total U.S. legal cannabis retail sales of $26.5 bln
in 2022 and $45.3 bln in 2027, which reflect upward revisions of
70 bps and 10 bps, respectively
    ** Cowen says Green Thumb Industries Inc  GTII.CD  remains
its top pick based on firm's disciplined capital deployment and
operating expense management
    ** Brokerage reiterates 'outperform' rating for Green Thumb,
along with Columbia Care Inc  CCHW.NLB , Curaleaf Holdings
 CURA.CD , Truelieve Cannabis Corp  TRUL.CD 
 (Reporting by Ankit Kumar in Bengaluru)
 ((Ankit.Kumar2@thomsonreuters.com))