Verano price target lowered to C$7 from C$12 at Alliance Global Partners

Alliance Global Partners analyst Aaron Grey lowered the firm’s price target on Verano Holdings (VRNOF) to C$7 from C$12 and keeps a Buy rating on the shares. The company’s Q3 sales and EBITDA came in below Street estimates due to the combination of continued impacts from its grow room transition in Florida, retail saturation and intentionally ceasing sales to certain wholesale accounts, the analyst tells investors in a research note.