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MMNFF - Acreage Holdings: Near-Term Growth Likely To Lag Behind Peers
MedMen Enterprises Inc - Class B
Welcome to our Cannabis Earnings series where we break down the latest earnings to help you focus on the most important topics.
Introduction
Acreage Holdings (OTCQX:ACRGF) reported 2018 Q4 results recently and it posted impressive top-line growth supported by recent store openings and continued consolidation of key assets. However, despite its premium valuation, we think Acreage will likely lag behind its peers in the near-term due to its footprint that lacks focus and core competency. We continue to rate Acreage neutral and favor other multi-state operators, or MSOs, due to better growth prospects.