As earnings season approaches, cannabis financial analysts are getting ready to conduct intrinsic valuations and scale back their market forecasts.
Fortunately for Benzinga readers, you can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Here's a look at some of the top cannabis stock picks from several analysts, according to Benzinga Analyst Stock Ratings.
TerrAscend Corp. (OTCQX:TRSSF) (CSE:TER)
Market Cap: $466.22 million
Analyst Ratings
- Needham's Matt McGinley maintained a "Buy" rating on the company's stock in August, lowering the price target to $3 from $4.
- Seaport Global's Sonny Randhawa initiated coverage of the company's stock in July with a "Buy" rating and price target of $4.
Recent Earnings Highlights
- The company ended the second quarter of fiscal 2022 with net sales of $65 million, compared to $50 million in the previous quarter.
- Adjusted EBITDA came in positive at $5.8 million as compared to $3.3 million in the first quarter of 2022.
Recent News
- Pelorus Equity Group Loans $45M To TerrAscend To Support MSO's Growth Initiatives
- TerrAscend And TRP Team Up To Bring Berner's Cookies Into Pennsylvania Cannabis Market
Price Action
TerrAscend's shares traded 3.40% higher at $1.52 per share at the time of writing on Wednesday morning.
Village Farms International, Inc. (NASDAQ:VFF)
Market Cap: $177.14 million
Analyst Ratings
- Alliance Global Partners' Aaron Grey retained a "Buy" rating on the company's stock, lowering his price target to $6 from $10 in August.
- Cantor Fitzgerald's Pablo Zuanic maintained an "Overweight" rating on the stock in August, lowering the price target to $6.75 from $7.3.
Recent Earnings Highlights
- The company released financial results for the second quarter in August, revealing a sales increase of 18% year-over-year to $82.9 million from $70.4 million in the second quarter of 2021.
- Consolidated adjusted EBITDA was negative $10.3 million compared with positive adjusted EBITDA of $1.5 million.
Recent News
- EXCLUSIVE: Village Farm's CEO Predicts 'A Lot Of Scorched Earth' In The Canadian Cannabis Market In The Next 3 Quarters
- Why Does This Undervalued Cannabis Stock Have An Encouraging Outlook?
Price Action
Village Farms' shares traded 1.50% lower at $1.97 at the time of writing on Wednesday morning.
Green Thumb Industries (OTC:GTBIF)
Market Cap: $2.54 billion
Analyst Ratings
- Seaport Global's Sonny Randhawa initiated his coverage of the company's stock in July with a "Buy" rating and price target of $15.
- Needham's Matt McGinley maintained a "Buy" rating on the company's stock in May, lowering the price target to $36 from $47.25
- Cantor Fitzgerald's Pablo Zuanic maintained an "Overweight" on the company's stock in August, lowering his price target to $31 from $39.
Recent Earnings Highlights
- The company reported its financial results for the second quarter in August, revealing a 4.8% sequential and 14.6% year-over-year increase in revenue to $254.3 million.
- Adjusted Operating EBITDA grew 17.4% sequentially to $78.7 million or 31% of revenue.
Recent News
- Pour Gas, Buy Some Weed? Cannabis To Be Sold At Circle K Gas Stations In Florida
- Why Is Green Thumb Industries (GTBIF) A Good Public Cannabis Company? This Analyst Breaks It Down For You!
Price Action
Green Thumb's shares traded 6.37% higher at $10.85 per share at the time of writing on Wednesday morning.
Curaleaf Holdings Inc (CSE:CURA) (OTCQX:CURLF)
Market Cap: $3.89 billion
Analyst Ratings
- Seaport Global's Sonny Randhawa initiated the coverage on the company's stock in July with a "Buy" and price target of $9.
- Needham's Matt McGinley also maintained a "Buy" rating on the company's stock in May, lowering the price target to $10 from $15.
Recent Earnings Highlights
- The company reported its financial and operating results for the second quarter in August, touting an 8% year-over-year increase to $338 million in revenue.
- Adjusted EBITDA came in positive at $86.17 million, representing an increase of 18% sequentially and 2% year-over-year.
Recent News
- Curaleaf Finalizes EBITDA Accretive Tryke Acquisition, Now Has 29 Growing Sites & 144 Dispensaries
- EXCLUSIVE: Curaleaf Founder Boris Jordan Says Cannabis Drinks Will Be 50% Of The Industry
Curaleaf's shares traded 2.43% higher at $5.47 per share at the time of writing on Wednesday morning.
Ayr Wellness Inc. (CSE:AYR) (OTCQX:AYRWF)
Market Cap: $265.35 million
Analyst Ratings
- Seaport Global's Sonny Randhawa initiated coverage on the company's stock with a "buy" rating in July and a price target of $13.
- Needham's Matt McGinley maintained a "Buy" rating on the company's stock in March, lowering the price target to $28 from $35.
Recent Earnings Highlights
- Ayr's second-quarter revenue totaled $110.1 million, representing an increase of 20.6% year-over-year and a 1% decrease compared to Q1 2022.
- In August, the company reported a positive adjusted EBITDA of $19.6 million for the period, representing a decrease of 28.5% percent compared to adjusted EBITDA of $27.4 million in Q2 2021 and an increase of 0.5% compared to adjusted EBITDA of $19.5 million in Q1 2021.
Recent News
- Ayr Wellness Rolls Out Concentrates Brand HAZE With Rapid Onset Products To Florida
- Ayr Wellness' Cannabis Brand Lost In Translation Debuts In Four Additional States
Price Action
Ayr's shares traded 5.20% higher at $3.85 per share at the time of writing on Wednesday morning.
Photo: Courtesy of Kindel Media by Pexels and gerald by Pixabay
