TRSSF - TerrAscend price target raised at Cantor on potential in New Jersey market

Cantor Fitzgerald analyst Pablo Zuanic has increased his price target for TerrAscend (OTCQX:TRSSF), noting the cannabis player’s exposure to the recreational market in New Jersey. Zuanic thinks that TerrAscend (OTCQX:TRSSF) could have the highest exposure to the NJ rec market in terms of percentage of net sales, and its relationship with Canopy Growth (NASDAQ:CGC) could “in theory protect the relative downside.” In addition, the analyst does not believe that the current consensus estimates for the company reflect the acquisition of Gage Growth which was recently approved by its shareholders. Noting its expensive valuation multiple compared to Curaleaf (OTCPK:CURLF) and Green Thumb (OTCQX:GTBIF), Zuanic does not consider TerrAscend (OTCQX:TRSSF) as compelling in value. Despite the Overweight rating, he leaves the stock out of its top picks among MSOs. The new price target at $7.65, up from $6.50, implies a premium of 33.7% to the last close. Compare how TerrAscend (OTCQX:TRSSF) is stacked up

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TerrAscend price target raised at Cantor on potential in New Jersey market