Ascend Wellness price target lowered to $5 from $6 at Seaport Research

Seaport Research lowered the firm’s price target on Ascend Wellness to $5 from $6 and keeps a Buy rating on the shares. After four quarters of beating revenue and AEBITDA estimates, the company reported Q2 results that were below the firm’s expectations, the analyst tells investors. Despite this, Seaport continues to believe the company’s strong execution, retail prowess, and marketing & acquisition upside make it the “most underappreciated” story in the cannabis sector.