In a recently released analyst research report, Roth Capital Partners Director and Research Analyst Scott Fortune initiated on shares of Greenlane Holdings Inc. (NASDAQ:GNLN) with a buy rating and price target that suggests some big upside to come.
Scott Fortune’s price target of $22.50 USD per share implies a potential upside of approximately 43.59% based on the last traded price of $15.67 USD per share on the NASDAQ.
Fortune’s price target is $1.50 USD per share higher than the price target set by Cowen & Co. Managing Director and Senior Research Analyst Vivien Azer, who also just recently initiated coverage on shares of Greenlane Holdings.
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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