Jushi Sees Canaccord Reiterate US$10 Price Target After Management Change-up

On June 30th, Jushi Holdings Inc. (CSE: JUSH) announced management and board of director changes. The company announced that Erich Mauff will be stepping down as Co-President and from the board, but will remain a consultant with the company for the next 24 months.

This transition has reportedly been underway for some months now. Additionally, they announced that Leonardo Garcia-Berg will be appointed Chief Operations Officer.

The company currently has seven analysts covering the stock, with a weighted 12-month price target of C$12.80, or an 85% upside. Out of the seven, three have strong buy ratings and four have buy ratings. The street high comes from PI Financial with a C$14.00 price target, and the lowest sits at C$11.50 from Ladenburg Thalmann.

Canaccord analyst Bobby Burleson reiterated his U$10.00 (C$12.61) price target and speculative buy rating in Canaccord’s note. He comments, “We view these developments as naturally fitting the evolution of JUSHF.” They believe Mauff has done his job of “helping to finance, establish, and expand the company’s operational footprint across several core markets.”

Burleson also notes that Virginia’s cannabis laws have just gone into effect as of June 1st. It is now legal for people over 21 to possess up to one ounce of cannabis, but stores won’t be opened until 2024. However, Burleson says, “the legal sale of smokable flower through an expanded medical program is likely to happen by the fourth quarter of this year.” Burleson reiterates his Virginia sales for Jushi at $45 million for the year. This represents roughly 12% of the market.


Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Netflix: Analysts Call For Q2 Revenues Of $8.0 Billion

Netflix (NASDAQ: NFLX) will be reporting its second quarter financial results on July 19 after...

Monday, July 18, 2022, 04:18:00 PM

Ascend Wellness: Canaccord Lowers Target To US$10

On January 14th, after a number of press releases from Ascend Wellness Holdings, Inc. (CSE:...

Friday, January 21, 2022, 04:20:00 PM

Electronic Arts: Q1 Analyst Consensus Estimates

Electronic Arts (NASDAQ: EA) will be reporting its fiscal first quarter financial results after the...

Wednesday, August 4, 2021, 10:49:00 AM

Aurora Cannabis: Analysts Slash Price Targets Ahead Of Q4 Earnings

Tomorrow after market close Aurora Cannabis (TSX: ACB) (NYSE: ACB) will be reporting their fiscal...

Monday, September 21, 2020, 03:15:54 PM

PENN: Consensus Points To Q1 Revenues Of $1.14 Billion

Penn National Gaming (NASDAQ: PENN) will be reporting its first quarter financial results on May...

Wednesday, May 5, 2021, 05:59:00 PM