In a recently released analyst research report, GMP Securities Healthcare Equity Research Analyst, Robert Fagan, CFA, reiterated his buy rating on shares of multi-state U.S. cannabis company Green Thumb Industries Inc. (CSE:GTII) (OTC:GTBIF) with a price target that suggests some noteworthy upside to come.
This announcement comes just over a week after Green Thumb Industries opened up its Rise marijuana dispensary in Amherst, Massachusetts, and just a few days since the company announced a $105 million USD senior secured debt financing round to bring non-dilutive capital into the company.
Robert Fagan’s price target of $32.00 CAD per share implies a potential upside of approximately 100.00% based on the last traded price of $16.00 CAD per share on the CSE.
According to Cantech Letter, “The analyst expects that GTI will be devoting some of the funds to speeding up capacity expansions in the states of Illinois, Pennsylvania, Maryland and Florida, opening up additional stores in Pennsylvania, Nevada, California, Ohio and Florida and setting up for launches in New Jersey and New York. Fagan calculates that after taking care of the expansions, GTI will likely have about $75-$100 million for further M&A activity.”
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