Wedbush analyst Gerald Pascarelli lowered the firm’s price target on Green Thumb Industries to $12 from $18 and keeps an Outperform rating on the shares. The company reported a solid quarter and "strong overall year amid a very challenging environment," the analyst tells investors in a research note. However, with price compression and inflationary consumer pressures expected to persist on a go forward basis, the firm reduced its 2023 revenue estimate to $1.1B and introduced 2024 revenue of $1.2B.
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Published first on TheFly
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