Canaccord analyst Matt Bottomley upgraded Planet 13 to Buy from Hold with a price target of C$1.20, down from C$1.40. Although Planet 13’s home market of Nevada continues to face pricing pressures that have weighed on the company’s ability to produce organic growth, its Las Vegas superstore continues to be one of the highest grossing retail locations in the country, the analyst tells investors in a research note. The firm believes a number of the company’s recent operational and strategic endeavors have positioned it for a “much more attractive” back half to 2024.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PLNH:
- Planet 13 Subsidiary VidaCann Shows Strong Q1 Growth
- Planet 13 Highlights the Growth of Planet 13 Florida (VidaCann) Through Q1 Preliminary Financials
- Planet 13 Expands Retail Footprint with VidaCann Acquisition
- Planet 13 Closes Acquisition of VidaCann
- Planet 13 Navigates Q1 Challenges with Growth Strategy