Craig-Hallum analyst Eric Des Lauriers upgraded TerrAscend to Buy from Hold with a price target of $2.25, up from $1.80. The firm said that, with shares up 59% year-to-date, it is clear it was wrong in its previous estimation of the marekt’s faith in TerrAscend’s balance sheet issues resolving. Despite the strong YTD move, the firm sees momentum continuing following the company’s acquisition of retail stores in Maryland and pending uplisting to the TSX.
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