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Fly News Breaks for August 13, 2019
CRLBF
Aug 13, 2019 | 06:13 EDT
Piper Jaffray analyst Michael Lavery last night initiated coverage of Cresco Labs with an Overweight rating and $11 price target. Cresco Labs is a leading operator in legal U.S. states ad is gaining an "important head" start by building brands, value-added products, and infrastructure in the U.S., which could be a $70B-$140B opportunity long-term, Lavery tells investors in a research note. Cresco operates as a federally illegal business, and therefore has a valuation overhang, which creates an opportunity, contends the analyst.
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