Analyst: This Cannabis Stock Could Double and Then Some

The company has immense potential both inside and outside of its home state of Florida believes one high-profile prognosticator…

Trulieve Cannabis¬†(OTC:TCNNF), the relatively successful Florida-based marijuana company, was an investor favorite Friday. That was due in no small part to a glowing new research note from noted pot industry analyst Pablo Zuanic of Cantor Fitzgerald. In his analysis, Zuanic raised his price target to $89 per share — a stunning 114% higher than the company’s most recent closing stock price.

It almost goes without saying that the prognosticator is maintaining his overweight (buy, in other words) recommendation on Trulieve stock.

Although Trulieve is known, and celebrated, for effectively defending its powerful market position in its native Florida, Zuanic is particularly encouraged by the company’s expanding presence in other states. He believes, meanwhile, that Florida is a market that still has a lot of potential.

“While the company’s FL [sequential volume] growth may have decelerated by 2-3[%], [company] sales there should still be up at least mid-teens ([roughly] $180 [million]),” he wrote.

“Also, [Pennsylvania] will contribute a full [quarter] in 1Q21 (Pitt deal closed 11/12). In the year ahead, Trulieve will also get the benefit of starting sales in [Massachusetts], the Philly deal closing in 2Q, besides ongoing underlying growth in the established FL business… While much smaller, sales in [Connecticut], [California], and [West Virginia] will round the overall picture.” Zuanic added.

In the Pennsylvania market, the analyst was referring to…

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