The growth of the cannabis market is fueled by the expanding legalization and acceptance of its medical use. Extensive research on its medicinal properties and its rising adoption for treating chronic conditions are additional factors contributing to market expansion. According to Statista, the cannabis market is expected to witness a five-year CAGR of 15.77% by 2027.
To help investors choose the best marijuana stocks from the entire universe, TipRanks offers a tool where you can compare such stocks. Using this tool, we have shortlisted five stocks that have received a Strong Buy rating from analysts, and their price targets reflect an upside potential of more than 50%.
- Jazz Pharmaceuticals (NASDAQ:JAZZ) – The biopharmaceutical company’s price forecast of $197.78 implies a nearly 60% upside from the current levels.
- Curaleaf Holdings (CURLF) (TSE:CURA) – Curaleaf is an American cannabis company publicly traded on the Canadian stock exchange. The stock has an analyst consensus upside of 189%.
- Green Thumb Industries (GTBIF) (TSE:GTII) – GTBIF stock’s average price target implies a consensus upside of 166.8%. The company produces and sells medicinal and recreational cannabis through wholesale and retail channels in the United States.
- Trulieve Cannabis (TCNNF) (TSE:TRUL) – The company provides medical cannabis products. The stock has an average price target of $3.57, which implies an impressive 245.3% upside potential from current levels.
- OrganiGram (NASDAQ:OGI) – The company engages in the production and sale of medical marijuana. OGI stock’s price forecast of $1.36 implies a nearly 253% upside.