Chicago Atlantic initiated with a Buy at Alliance Global Partners

Alliance Global Partners initiated coverage of Chicago Atlantic (REFI) with a Buy rating and $20 price target Chicago Atlantic is well-positioned as a mortgage REIT to provide loans to the capital-constrained cannabis sector, and the combination of having derisked the exposure to lower rates, healthy liquidity, and ample opportunities should help the company grow its loan portfolio, income, and distributable earnings, the analyst tells investors in a research note. The firm sees an attractive entry point given the company’s ability to succeed in the cannabis market both in the current and future environments.