Alliance Global Partners analyst Aaron Grey initiated coverage of Cresco Labs (CRLBF) with a Buy rating and C$25 price target.
Grey views Cresco's focus on wholesale making it "a differentiated play" among multi-state operators, or MSOs, telling investors he believes the company should continue to benefit from growth within existing and potential new states.
He also sees Cresco being positioned to succeed in various state and federal legal environments in what he believes could become a $90B U.S. cannabis market at maturity.
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