CSE:TRUL - Post Discussion
Post by
zack50 on Mar 31, 2022 8:53am
"Buy" rating... TP reduced... Average SP @ $70
Echelon Partners’ Andrew Semple reduced his target for shares of Trulieve Cannabis Corp. to $55 from $60, reiteraiting a “buy” rating. Others making changes include: ATB Capital Markets’ Kenric Tyghe to $65 from $70 with an “outperform” rating, Canaccord’s Derek Dley to $65 from $70 with a “buy” rating, Stifel’s Andrew Partheniou to $125 from $135 with a “buy” rating, Alliance Global Partners’ Aaron Grey to $60 from $76 with a “buy” rating and BTIG’s Camilo Lyon to $72 from $62 with a “buy” rating. The average is $70.
“Trulieve Cannabis Corp. announced Q421 results slightly below estimates, but which we view as roughly in line with expectations given the slow quarter for U.S. cannabis,” he said. “The quarter represents the first contribution from the Company’s acquisition of Harvest Health & Recreation Inc. completed on October 1, 2021. Trulieve grew revenues 36 per cent quarter-over-quarter on the back of the acquisition, though adj. EBITDA grew just 3 per cent sequentially on pricing and margin pressures, as well as temporary inefficiencies around closing the transaction.”
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