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Trulieve Cannabis Enters Partnership with Miami Mango

Trulieve Cannabis Corp. (TCNNF) has entered into a partnership with Miami Mango, a South Florida-based cannabis company. Shares of the company declined 2.5% on Thursday.

Trulieve Cannabis, one of the best cannabis stocks on TipRanks, engages in the provision of medical cannabis products. The firm cultivates and produces its products in-house and distributes them through its branded stores as well as directly to patients via home delivery.

Trulieve plans to offer Miami Mango’s Mango Haze in a flight to include flower, pre-rolls, oils, and concentrates, starting from late February 2022. Notably, it will be the first strain that Trulieve will provide exclusively to its medical patients in the South Florida market.

Executive Comments

The CEO of Miami Mango, Alex Villegas, said, “It’s incredible to be able to offer Miami Mango in my hometown of Boynton Beach and the region through Trulieve, the market leader in Florida. I know that our shared commitment to quality cannabis products and patient care will benefit both long-time fans and those new to the Miami Mango family.”

“Trulieve is excited to partner with Miami Mango, which has been sought out in South Florida and beyond for decades. As Florida’s market leader, this partnership exemplifies our commitment to providing the highest quality and broadest selection of products to Florida’s medical cannabis community,” said Kim Rivers, the CEO of Trulieve.

Wall Street’s Take

Earlier this month, Wolfe Research analyst Greg Badishkanian initiated coverage on Trulieve with a Buy rating.

Badishkanian is of the opinion that though concerns over exposure to the Florida market linger, the company’s track record of maintaining share and its store locations should lead to better-than-expected pricing power.

Overall, the Street has a bullish outlook on the stock with a Strong Buy consensus rating based on 7 unanimous Buys. The average Trulieve price target of $66.87 implies upside potential of about 251.7% from current levels.

Bloggers’ Opinion

Based on the opinion of 22 financial bloggers, TipRanks data shows that blogger sentiment is 95% Bullish on Trulieve, compared to a Cannabis stocks’ sector average of 68%.

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