TRSSF - TerrAscend gains as Cantor highlights its prospects in New Jersey

TerrAscend (TRSSF +8.7%) is rising Thursday for the third straight session after the U.S. Multi-State Operator of cannabis reported its financials for Q4 2021. Despite lower-than-expected quarterly sales and Q1 2022 guidance, Cantor Fitzgerald analyst Pablo Zuanic has raised his price target for the stock, noting, among others, the company’s potential in New Jersey. Zuanic notes that during a meeting scheduled for later this month, NJ Cannabis Control Commission (CRC) is expected to clear certain medical stores to sell recreational cannabis subject to the approval of townships. While there could be a potential one-month lag for processing, TerrAscend (OTCQX:TRSSF) could begin supplies to third-party stores as soon as early April, Zuanic predicts. He reiterated the Overweight rating and set a 12-month per share of $7.90 for the stock, up from $7.65 previously, to imply a premium of ~60% to the last close. “In a sector lacking near-term catalysts, stocks with exposure

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TerrAscend gains as Cantor highlights its prospects in New Jersey