Green Thumb Industries initiated with a Buy at Canaccord

Canaccord initiated coverage of Green Thumb Industries (GTBIF) with a Buy rating and C$18 price target The winds of regulatory change are finally starting to blow and any material change to the backdrop ahead of the midterm elections will drive a re-rating of the space, the analyst tells investors in a research note. Green Thumb is particularly appealing at current levels, as the company has strong or leading positions in most of the key markets through 2027, including Virginia, Ohio, Maryland, Pennsylvania, and most recently Minnesota, as well as relatively limited exposure in the more challenging states, the firm says.