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PRO: Piper Jaffray Initiates Coverage of Cresco Labs with a Buy

Here's what CRLBF investors need to know...

Steven Lachard by Steven Lachard
August 13, 2019
in Analyst Action, Investments, Marijuana Stocks, PRO, Trading
Piper Jaffray - Marijuana Stocks News

Photo Credit -Piper Jaffray

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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.

Also, just this morning, Cresco Labs Inc. announced that the company’s Euro-denominated shares would officially begin trading on the Frankfurt Exchange.

Be sure to subscribe to updates here so you never miss an important development.

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Tags: Cresco LabsCresco Labs Inc.CSE:CLMichael LaveryMulti-State OperatorOTC:CRLBFPiper Jaffray

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Steven Lachard

Steven Lachard

Steven Lachard is a staff writer for MJobserver.com with a particular focus on marijuana stocks. Beyond MJobserver.com, Steven's pot stock insights have been featured on TalkMarkets.com and more.

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