In a recently released analyst research report, Piper Jaffray‘s Senior Research Analyst covering packaged food, tobacco, and cannabis, Michael Lavery, initiated coverage on shares of multi-state cannabis operator Cresco Labs Inc. (CSE:CL) (OTC:CRLBF) with an Overweight rating and price target that suggests some nice upside to come.
This analyst update comes ahead of the company’s expected release of Q2 fiscal 2019 earnings on August 21st. Also, this comes on the heels of great news out of the Empire State that Cresco received regulatory approval for the acquisition of 1 of 10 vertical New York cannabis licenses.
Michael Lavery’s Cresco price target of $11.00 USD per share implies a potential upside of approximately 33.50% based on the last traded price of $8.24 USD per share on the OTC markets.
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