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InterCure price target lowered to $5 from $10 at TD Cowen

TD Cowen lowered the firm’s price target on InterCure to $5 from $10 and keeps an Outperform rating on the shares. The analyst said they delivered 4Q results that were modestly below our estimates on revenues which grew 33% in the quarter while a clearing of excess wholesale inventory as international operators wind down their revenues was a drag on gross margin.

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