Fly News Breaks for February 21, 2020
Feb 21, 2020 | 07:33 EDT
Ladenburg Thalmann analyst Glenn Mattson initiated coverage of Cresco Labs with a Buy rating and $8 price target. The company has multiple high population states that are medical only but could see a transition to adult recreational marijuana in 2020 and 2021, such as New York, Pennsylvania, Arizona and Ohio, Mattson tells investors in a research note. The analyst says Cresco is a market leader in two tier one states, Illinois and Pennsylvania. Illinois just transitioned to an adult recreational and Mattson expects the market to grow from $250M in 2019 to over $2B over the next few years.
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