Cresco Labs price target lowered to $14.25 from $15 at Cantor Fitzgerald

Cantor Fitzgerald analyst Pablo Zuanic lowered the firm’s price target on Cresco Labs (CRLBF) to $14.25 from $15 and keeps an Overweight rating on the shares after meeting with the company. Management confirmed the acquisition with Columbia Care (CCHWF) is on track to close by end of March, Zuanic tells investors in a research note. However, the analyst sees a challenging 12-18 months for the cannabis sector with no gains on the federal reform front, limited capital access and consumer pressure. For those taking a long-term view, the recent sector selloff generates attractive long-term buying opportunities, writes Zuanic.