Trulieve Cannabis Corp. is more bullish on prospects for a ballot referendum to approve adult-use cannabis in its home state of Florida which may be a...
Trulieve Cannabis Corp. is more bullish on prospects for a ballot referendum to approve adult-use cannabis in its home state of Florida which may be a potential spark for its stock.
The cannabis company said Wednesday it expects its first-quarter revenue to fall from the fourth-quarter level of $302 million after it warned of lower sequential revenue in the first quarter. Jefferies analyst Pablo Zuanic reiterated an overweight rating on Trulieve stock and cut his 12-month price target to $37 from $41.
Trulieve has been spending to support the Smart and Safe Florida campaign to put adult-use cannabis on the ballot in the Sunshine State potentially by 2024. Meanwhile, however, medical cannabis customers have been going to dispensaries more often but spending less per month as the recession kicks in, she said.Overall, the company continues to focus on cash generation and managing costs, as it brings on a new 750,000 square foot indoor cultivation facility in Florida.
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