Green Thumb Industries price target raised to $15.50 from $11 at Needham

Needham raised the firm’s price target on Green Thumb Industries to $15.50 from $11 and keeps a Buy rating on the shares. The company ended 2023 with better-than-expected revenue and EBITDA growth, with margin surging to the highest rate in over two years, though inventory depletion, stabilization in the largest markets, and a greater contribution from higher-margin recent adult-use markets like MD, CT, and NJ should bode well for sustaining the gross margin, the analyst tells investors in a research note.