Tuesday, October 28, 2025

Verano: Haywood Securities Reiterates $36 Price Target

Earlier this week, Verano Holdings (CSE: VRNO) reported its first-quarter financial results. The company reported its numbers on a pro-forma consolidated basis, indicating revenue of $143 million, with gross profit coming in at $89 million, or a 62% margin. They had an adjusted EBITDA of $75 million or 52%, the highest in the industry.

The company currently has five analysts who have a weighted 12-month price target of C$40, a 68% upside. One analyst has a strong buy rating, while the other four have buy ratings. Beacon Securities has the highest price target at C$47, while the lowest currently sits at C$35

In Haywood’s note on the earnings, they reiterated their C$36 price target and buy rating on Verano. Neal Gilmer, their analyst, calls this quarter an impressive and strong quarter and writes, “management continues to deliver on operational efficiency.”

Verano beat all of Haywood’s estimates, which you can find below. Gilmer says that the company generated ~69% of its revenue from retail and ~31% from wholesale, with Florida making the mix more heavily weighted towards retail. Wholesale sales were up 28% year over year, with same-store sales being up 90% year over year. Daily visits increased to 10k, up from 4k, while daily transactions were up 71% year over year.

Gilmer says that Verano exceeded all financial expectations for the second consecutive quarter and expects the company to continue on its M&A spree.

Below you can see the updated 2021 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

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Goliath Resources Drills 10.72 g/t Gold Over 7.83 Metres At Surebet

Steadright Enters MOU To Acquire Historic Goundafa Polymetallic Mine In Morocco

Related News

BMO: Investors Remain Underweight In Base & Precious Metals

BMO Capital Markets Metals & Mining analysts recently met with several U.S investors, both long...

Sunday, September 18, 2022, 05:17:00 PM

Farmers Edge: Canaccord, National Bank Initiate With $25 Price Target

Early this month Farmers Edge inc (TSX: FDGE) completed their $125 million IPO on the...

Friday, March 26, 2021, 11:41:00 AM

Paypal: Analysts Forecast Q2 Revenues Of $6.26 Billion

Paypal (NASDAQ: PYPL) will be reporting its second quarter financial results today after market close....

Wednesday, July 28, 2021, 03:03:00 PM

BMO Lowers Microsoft’s Price Target Due To US Dollar Strength

As earnings season is fast approaching, analysts are coming out with their previews, and one...

Tuesday, July 26, 2022, 02:18:00 PM

FuboTV Gets Downgraded To Market Perform By BMO Capital Markets, Stock Falls

FuboTV (NYSE: FUBO) has had a fantastic run from $26.59 to $62 since the start...

Wednesday, December 23, 2020, 10:48:00 AM