Cresco Labs Expands Ohio Presence with New Sunnyside Dispensary

Cresco Labs ( (TSE:CL) ) has provided an update.

Cresco Labs has opened its sixth dispensary in Ohio, named Sunnyside, located in Proctorville, marking its 71st location nationwide. This expansion strengthens Cresco Labs’ market leadership in Ohio, where it holds the top retail market share and third in branded product share. The new dispensary is expected to contribute to local economic growth through job creation and increased revenue, which will be used to improve community infrastructure.

The most recent analyst rating on (TSE:CL) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Cresco Labs stock, see the TSE:CL Stock Forecast page.

Spark’s Take on TSE:CL Stock

According to Spark, TipRanks’ AI Analyst, TSE:CL is a Neutral.

Cresco Labs’ overall stock score is primarily impacted by its financial performance challenges, including declining revenues and high leverage. Technical analysis shows some positive momentum, but valuation concerns persist due to negative profitability. The earnings call highlighted strategic initiatives and operational strengths, but ongoing market challenges and price compression remain significant risks.

To see Spark’s full report on TSE:CL stock, click here.

More about Cresco Labs

Cresco Labs is a leading company in the medical marijuana industry, focusing on normalizing and professionalizing the sector through a consumer packaged goods approach. The company is involved in cultivation, production, and branded product distribution, operating dispensaries under the Sunnyside brand. Cresco Labs is committed to community support through economic opportunity, investment, and legislative initiatives.

Average Trading Volume: 347,700

Technical Sentiment Signal: Sell

Current Market Cap: C$586.7M

See more data about CL stock on TipRanks’ Stock Analysis page.