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Needham Thinks Trulieve Cannabis’ Stock is Going to Recover

In a report released today, Matt McGinley from Needham maintained a Buy rating on Trulieve Cannabis (TCNNFResearch Report), with a price target of $50.00. The company’s shares closed last Tuesday at $20.70, close to its 52-week low of $16.99.

According to TipRanks.com, McGinley is a 4-star analyst with an average return of 24.5% and a 41.6% success rate. McGinley covers the Basic Materials sector, focusing on stocks such as Ascend Wellness Holdings LLC, Green Thumb Industries, and Curaleaf Holdings.

Trulieve Cannabis has an analyst consensus of Strong Buy, with a price target consensus of $61.01, a 190.5% upside from current levels. In a report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $60.00 price target.

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Trulieve Cannabis’ market cap is currently $3.8B and has a P/E ratio of 27.71.

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Trulieve Cannabis Corp. engages in the provision of medical cannabis products. The firm cultivates and produces its products in-house and distributes to its branded stores, as well as directly to patients via home delivery. Its products include smokable flower, inhalation, oral, sublingual, topical, inter-nasal, and concentrates. The company was founded on September 21, 2018 and is headquartered in Quincy, FL.

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