Mike Hickey, an analyst from Benchmark Co., maintained the Buy rating on Green Thumb Industries (GTBIF – Research Report). The associated price target was lowered to $7.00.
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Mike Hickey has given his Buy rating due to a combination of factors that highlight Green Thumb Industries’ resilience and strategic positioning. Despite a slight miss on revenue expectations for Q1 2025, the company demonstrated strong financial discipline with $74M in operating cash flow, showcasing its ability to navigate pricing pressures and competitive challenges. The firm’s substantial cash reserves and working capital provide a buffer against market volatility and support future investments and potential acquisitions.
Green Thumb’s market presence as a leading U.S. multi-state operator is reinforced by its operations across 14 states and its focus on expanding consumer packaged goods revenue, which saw a 14% year-over-year increase. While retail revenue faced headwinds from price compression, the company’s branded products like RYTHM Premium Flower have gained traction, indicating effective brand positioning. Although challenges such as regulatory uncertainty and competitive pressures persist, the company’s strategic initiatives and financial stability underpin the Buy rating.
According to TipRanks, Hickey is a 4-star analyst with an average return of 3.1% and a 60.40% success rate. Hickey covers the Communication Services sector, focusing on stocks such as National Cinemedia, Electronic Arts, and IMAX.
In another report released on May 12, Seaport Global also reiterated a Buy rating on the stock with a $17.00 price target.
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