In a recently released analyst research report, GMP Securities‘ Healthcare Equity Research Analyst, Robert Fagan, CFA, reiterated his buy rating on shares of Cresco Labs Inc. (CSE:CL) (OTC:CRLBF) citing strong recent expansion efforts and “robust top line growth.”
One big takeaway from Fagan’s note to clients was the following statement:
“CL remains the most profitable large-tier multistate operator with fiscal 2018 EBITDA of $3.5 million.”
Robert Fagan’s Cresco price target of $21.50 CAD per share implies a potential upside of approximately 23.92% based on the last traded price of $17.35 CAD per share on the CSE.
According to Fagan’s note to clients, “With five new markets (OH, MA, FL, NY, MD) expected to begin materially contributing to results during the second half, combined with reinforced Midwest positioning and the addition of Origin House, CL’s growth outlook remains very robust.”
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