High Tide resumed with a Buy at Canaccord

Canaccord analyst Luke Hannan resumed coverage of High Tide (HITI) with a Buy rating and C$7.25 price target The firm believes the company’s retail-first model and 2.15M loyalty members provide “superior” unit economics and recurring traffic in competitive Canadian markets. High Tide’s margin expansion from white-label brands and its international expansion are catalysts for the shares, the analyst tells investors in a research note.