Analysts Love These 5 Cannabis Stocks

Analysts Love These 5 Cannabis Stocks

As earnings season approaches, cannabis financial analysts are getting ready to conduct intrinsic valuations and scale back their market forecasts.

Fortunately for Benzinga readers, you can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Here's a look at some of the top cannabis stock picks from several analysts, according to Benzinga Analyst Stock Ratings.

TerrAscend Corp. TRSSF TER

Market Cap: $466.22 million

Analyst Ratings

  • Needham's Matt McGinley maintained a "Buy" rating on the company's stock in August, lowering the price target to $3 from $4.
  • Seaport Global's Sonny Randhawa initiated coverage of the company's stock in July with a "Buy" rating and price target of $4.

Recent Earnings Highlights

  • The company ended the second quarter of fiscal 2022 with net sales of $65 million, compared to $50 million in the previous quarter.
  • Adjusted EBITDA came in positive at $5.8 million as compared to $3.3 million in the first quarter of 2022.

Recent News

Price Action

TerrAscend's shares traded 3.40% higher at $1.52 per share at the time of writing on Wednesday morning.

Village Farms International, Inc. VFF

Market Cap: $177.14 million

Analyst Ratings

  • Alliance Global Partners' Aaron Grey retained a "Buy" rating on the company's stock, lowering his price target to $6 from $10 in August.
  • Cantor Fitzgerald's Pablo Zuanic maintained an "Overweight" rating on the stock in August, lowering the price target to $6.75 from $7.3.

Recent Earnings Highlights

  • The company released financial results for the second quarter in August, revealing a sales increase of 18% year-over-year to $82.9 million from $70.4 million in the second quarter of 2021.
  • Consolidated adjusted EBITDA was negative $10.3 million compared with positive adjusted EBITDA of $1.5 million.

Recent News

Price Action

Village Farms' shares traded 1.50% lower at $1.97 at the time of writing on Wednesday morning.

Green Thumb Industries GTBIF

Market Cap: $2.54 billion

Analyst Ratings

  • Seaport Global's Sonny Randhawa initiated his coverage of the company's stock in July with a "Buy" rating and price target of $15.
  • Needham's Matt McGinley maintained a "Buy" rating on the company's stock in May, lowering the price target to $36 from $47.25
  • Cantor Fitzgerald's Pablo Zuanic maintained an "Overweight" on the company's stock in August, lowering his price target to $31 from $39.

Recent Earnings Highlights

  • The company reported its financial results for the second quarter in August, revealing a 4.8% sequential and 14.6% year-over-year increase in revenue to $254.3 million.
  • Adjusted Operating EBITDA grew 17.4% sequentially to $78.7 million or 31% of revenue.

Recent News

Price Action

Green Thumb's shares traded 6.37% higher at $10.85 per share at the time of writing on Wednesday morning.

Curaleaf Holdings Inc CURA CURLF

Market Cap: $3.89 billion

Analyst Ratings

  • Seaport Global's Sonny Randhawa initiated the coverage on the company's stock in July with a "Buy" and price target of $9.
  • Needham's Matt McGinley also maintained a "Buy" rating on the company's stock in May, lowering the price target to $10 from $15.

Recent Earnings Highlights

  • The company reported its financial and operating results for the second quarter in August, touting an 8% year-over-year increase to $338 million in revenue.
  • Adjusted EBITDA came in positive at $86.17 million, representing an increase of 18% sequentially and 2% year-over-year.

Recent News

Price Action

Curaleaf's shares traded 2.43% higher at $5.47 per share at the time of writing on Wednesday morning.

Ayr Wellness Inc. AYR AYRWF

Market Cap: $265.35 million

Analyst Ratings

  • Seaport Global's Sonny Randhawa initiated coverage on the company's stock with a "buy" rating in July and a price target of $13.
  • Needham's Matt McGinley maintained a "Buy" rating on the company's stock in March,  lowering the price target to $28 from $35.

Recent Earnings Highlights

  • Ayr's second-quarter revenue totaled $110.1 million, representing an increase of 20.6% year-over-year and a 1% decrease compared to Q1 2022.
  • In August, the company reported a positive adjusted EBITDA of $19.6 million for the period, representing a decrease of 28.5% percent compared to adjusted EBITDA of $27.4 million in Q2 2021 and an increase of 0.5% compared to adjusted EBITDA of $19.5 million in Q1 2021.

Recent News

Price Action

Ayr's shares traded 5.20% higher at $3.85 per share at the time of writing on Wednesday morning.

Photo: Courtesy of Kindel Media by Pexels and gerald by Pixabay

Posted In: analysisCantor FitzgeraldmarijuanaMatt McGinleyNeedhamPablo ZuanicSeaport GlobalSonny RandhawastocksCannabisEarningsNewsPenny StocksSmall CapMarketsAnalyst Ratings

BENZINGA CANNABIS CONFERENCE

Meet the biggest cannabis industry players and make deals that will push the industry forward.

Featuring live company presentations, insider panels, and unmatched access to networking, the Benzinga Cannabis Capital Conference is where cannabis executives and entrepreneurs meet.

Join us April 11-12, 2023 at Fontainebleau Miami Beach in sunny Florida.