Trulieve Analyst Highlights 50% Volume Jump Sparked By Pandemic Shopping

  • Cantor Fitzgerald’s Pablo Zuanic reiterated an Overweight on Trulieve with a $30 price target.
  • Before Tuesday’s revival, U.S. marijuana stocks were down 45% in the last month, while SPX was down 25%, the analyst said.
  • We think that created a great investment opportunity with the well-capitalized and well-structured MSOs, given the sector’s resilience (i.e. business up during this COVID-19 crisis).
  • While cannabis dispensaries in Florida remain open, last week’s sales may indicate consumers are worried about potential closures, or just the higher need for cannabis consumption during home isolation in response to the COVID-19 outbreak, or both, Zuanic said.

Read full article: benzinga.com