Compass Point upgraded shares of Trulieve Cannabis (CSE: TRUL, OTCMKTS:TCNNF) from a neutral rating to a buy rating in a research report sent to investors on Monday, Benzinga reports. They currently have $17.00 price objective on the stock, up from their prior price objective of $11.00.
Trulieve is the first and leading medical cannabis company in the state of Florida, the third most populous state in the United States. Its vertically-integrated “seed-to-sale” operation has approximately 55% of the Florida market. With a patient base that grows approximately 10% month-to-month, it is poised for growth in this attractive market. Trulieve boasts over 260 SKUs and is constantly adding new, fresh, and exciting items to its product line. Its widespread dispensary network and large delivery fleet provides important, much-needed access to thousands of patients every day throughout the state. Trulieve is committed to growing its dispensary footprint in the state, constantly identifying new locations that will bring Trulieve closer to patients, allowing many more people to have easier access to the medicine they need. The Company has a target of 44 stores in Florida by the end of 2019, with more growth ahead. Its first mover advantage in the state provides numerous benefits, including brand recognition and media attention. Strong financial performance, driven by sales to a loyal and dedicated group of patients affectionately called Trulievers, positions the company’s commitment to continue its pattern of growth.
Disclaimer: All posts made on this website are provided for information purposes only. None of the information here is intended as investment advice, as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, Company, or fund. Before making an investment decision, you should seek the advice of a qualified and registered securities professional. The author has no position in any stocks mentioned above and have no intention of opening positions in the next 72 hours.