In a recently released analyst research report, Cowen & Co. Managing Director and Senior Research Analyst covering beverages, tobacco, and cannabis, Vivien Azer, initiated coverage on shares of Greenlane Holdings Inc. (NASDAQ:GNLN) with an Outperform rating and a price target that suggests some noteworthy upside to come.
Vivien Azer’s price target of $21.00 USD per share implies a potential upside of approximately 35.14% based on the last traded price of $15.54 USD per share on the NASDAQ.
According to Azer, “With exposure to fast growth industries, including cannabis, novel nicotine and hemp-derived CBD, which we believe collectively represents over $120 bn in retail sales, GNLN is well positioned to capitalize on current trends. We forecast robust sales growth at a 27% CAGR.”
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