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BTIG Thinks Green Thumb Industries’ Stock is Going to Recover

In a report issued on August 3, Camilo Lyon from BTIG reiterated a Buy rating on Green Thumb Industries (GTBIFResearch Report), with a price target of C$45.00. The company’s shares closed last Thursday at $9.40, close to its 52-week low of $7.72.

According to TipRanks.com, Lyon has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -9.8% and a 34.4% success rate. Lyon covers the Consumer Goods sector, focusing on stocks such as Canada Goose Holdings, Lululemon Athletica, and The Lovesac Company.

Green Thumb Industries has an analyst consensus of Strong Buy, with a price target consensus of $23.86, which is a 145.7% upside from current levels. In a report issued on July 22, Seaport Global also initiated coverage with a Buy rating on the stock with a $15.00 price target.

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The company has a one-year high of $33.35 and a one-year low of $7.72. Currently, Green Thumb Industries has an average volume of 431.9K.

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Green Thumb Industries is headquartered in Chicago, Illinois, and produces and sells medicinal and recreational cannabis through wholesale and retail channels in the United States. It has a presence in 12 states and operates over 30 cannabis stores under the chains Rise and Essence. Green Thumb is focusing its expansion on limited license states with large populations, and it does not currently export into the global medical market due to U.S. federal prohibition. It offers multiple products under a portfolio of cannabis consumer packaged goods brands, including Dr. Solomon’s, Dogwalkers, and Beboe.

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