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Cresco Labs Inc C.CL

Alternate Symbol(s):  CRLBF

Cresco Labs Inc. is an integrated multi-state cannabis operator in the United States. The Company is licensed to cultivate, manufacture, and sell retail and medical cannabis products primarily through Sunnyside, Cresco Labs’ national dispensary brand, and third-party retail stores. Its family brands include Cresco, High Supply, Good News, Wonder Wellness Co., FloraCal Farms, Remedi and Mindy’s. Its portfolio consists of over 400 products. The Company's products are sold in over 1,600 dispensaries across the country. Its Cresco offers consistent strains, available in a variety of product forms at dispensaries and retail locations nationwide. Its High Supply lab-tested; and available in vape carts, vape pens, flower, popcorn, shake, shorties and concentrates. Its Remedi products provide a consistent and trusted alternative to traditional pharmaceuticals like opioids. Its Mindy’s offers dosed edibles created by James Beard. It is the wholesaler of branded cannabis products.


CSE:CL - Post by User

Post by kijijion Aug 25, 2022 12:31pm
233 Views
Post# 34920138

Cresco Labs maintained at "buy"

Cresco Labs maintained at "buy"
 Echelon Capital Markets analyst Andrew Semple has reiterated his "buy" recommendation for Cresco Labs. The Globe's David Leeder writes in the Eye On Equities column that Mr. Semple lowered his share target to $9 from $15. Analysts on average target the shares at $12.90. Mr. Semple says in a note: "Management noted cannabis prices have compressed 10 to 30 per cent in the company's core markets and continue to trend lower. U.S. cannabis businesses are allocating more of their own products to their own stores to mitigate this pricing pressure, though this dynamic has softened wholesale market conditions, which may have an outsized impact on Cresco as the nation's largest wholesaler of branded cannabis products. ... Management indicated Cresco's H222 is likely to see wholesale revenues down compared to Q222, which has led us to forecast a sequential consolidated revenue decline in Q322. ... Gross margins are expected to remain above the 50-per-cent level for the foreseeable future despite pricing headwinds as Cresco too will increasingly vertically integrate by allocating more of its own branded products to its own dispensary shelves."
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