Wednesday, October 8, 2025

Latest

Trulieve: Canaccord Retains $97 Price Target Following Harvest Health Transaction

On October 1, Trulieve Cannabis (CSE: TRUL) announced that they completed their $1.75 billion acquisition of Harvest Health (CSE: HARV). Harvest shareholders received 0.1170 shares of Trulieve for each subordinate voting share held. Trulieve issued a total of 50.9 million shares. The pro-forma second quarter revenue would have been $317.6 million.

A number of analysts raised their 12-month price targets off the back of the completed acquisition. This brought the average 12-month price target up to C$84.80, or a 137% upside. There are 17 analysts covering the stock, with 5 analysts having strong buy ratings and the other 12 have buy ratings. The street high sits at C$132 from Stifel-GMP while the lowest comes in at C$54.

In Canaccord’s note, they elected to just revise their estimates while keeping their Buy rating and C$97 price target the same. They say that beyond the attractive assets in Florida and Arizona, Pennsylvania is one of the key reasons why they like this transaction. They write, “Florida and Pennsylvania also offer potential significant adult-use upside beyond what we have included in our estimates.”

Canaccord also commends Trulieve on raising $350 million at 8% with no warrant, saying that this has been the most attractive term in the space. This, combined with the $55 million they got from selling Harvest’s Florida license, makes Trulieve’s balance sheet “well-positioned to fund organic growth in these key markets.” Canaccord believes that it will use its balance sheet to focus on its adult-use markets, specifically Arizona and Massachusetts as well as keeping its eyes out for acquisitions.

Below you can see Canaccord’s updated 2021 and 2022 estimates.


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

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

IAMGOLD Sees Canaccord Lift Price Target Following Financing Deal

On Monday, IAMGOLD (TSX: IMG) announced that it had reached an agreement with Sumitomo Metal...

Thursday, December 22, 2022, 12:49:00 PM

BMO Raises Price Target, Rating On Electronic Arts

Last week BMO raised their 12-month price target and rating on Electronic Arts (NASDAQ: EA),...

Saturday, July 24, 2021, 09:00:00 AM

Equinox Gold Sees BMO Lower Price Target To $11.50

At the end of January, Equinox Gold Corp. (TSX: EQX) announced its 2022 production guidance....

Thursday, February 10, 2022, 06:04:00 PM

Peloton Sees Consensus Targets Tumble Amid Recalls

Peloton Interactive (NASDAQ: PTON) investors had a very rough week last week after falling almost...

Tuesday, May 11, 2021, 11:48:00 AM

Green Thumb: Fourth Quarter Analyst Consensus Estimates

Green Thumb Industries (CSE: GTII) announced that they will be reporting their fourth quarter and...

Saturday, March 13, 2021, 02:41:00 PM