Another UpgradeCan expect more as analysts are now calling for a double from here. GLTA
After “solid” first-quarter results, Echelon Capital Markets analyst Andrew Semple hiked his target for Ayr Wellness Inc. to $74 from $70 with a “buy” rating, exceeding the $61.80 consensus.
“We forecast steep growth ahead, with our forecast calling for sales to surpass $120-million by Q420, more than double Q121 levels,” he said. “In the quarters ahead, Ayr will benefit from first full quarter of contribution from its acquired Arizona and Florida businesses, closing of the Garden State Dispensary acquisition in New Jersey (expected Q321), significant capacity expansions across Arizona, Pennsylvania, Florida, New Jersey, and Nevada (as well as MA/OH to turn online in 2022), and 14 new dispensaries in operation by year-end 2021 relative to quarter-end Q121.”