3 Cannabis Stocks Wall Street Loves

A consensus EPS estimate for fiscal 2021 represents a 158.3% improvement year-over-year. The consensus revenue estimate of $378.07 million for the current year represents a 65.3% increase from the same period last year. The stock has gained 97.6% over the past year.

Of the four Wall Street analysts that provided ratings for the stock, three have rated it “Buy.” Also, the consensus price target of $5.71 represents a potential upside of 47.1%.

Green Thumb Industries Inc. (GTBIF)

GTBIF is a manufacturer and seller of various cannabis products for medical and adult-use in the United States. The company distributes cannabis flower, processed and packaged products, and other cannabis products under the brand names – Rythm, Dogwalkers, The Feel Collection, and other brands to third-party retail stores, as well as directly to consumers in its own retail stores.

This month, the company collaborated with cannabis-infused beverage brand Cann to manufacture and distribute its line of cannabis-infused sparkling beverages. This partnership will complement GTBIF’s brand portfolio because more consumers are seeking alternatives to alcohol with familiar consumption experiences.

Last month, GTBIF raised approximately $56 million from the sale of 1.6 million registered subordinate voting shares. This should significantly increase the company’s capitalization and financial flexibility.

GTBIF’s total revenue climbed 131.1% year-over-year to $157.1 million in the third quarter ended September 30, 2020, driven by growth in its consumer-packaged goods and retail businesses. Its gross profit increased by 36.5% sequentially to $86.96 million. Its adjusted operating EBITDA rose 50.2% from the year-ago value to $53.18 million over this period.

A consensus EPS estimate of $0.42 for 2021 represents a 500% improvement year-over-year. The consensus revenue estimate of $833.71 million for the current year represents a 51.6% increase from the same period last year. The stock has gained 453.5% over the past year.

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