You probably don't need to be told this, but legal marijuana is a fast-paced industry that's literally and figuratively budding before our eyes. Depending on your preferred source on Wall Street, we're talking about an industry that could be generating as much as $200 billion in annual sales in a decade's time.
The question that investors have to ask themselves is simple: Which marijuana stocks should I buy to take advantage of this growth?
If investors were to base their return expectations solely on Wall Street's price target projections, three marijuana stocks would stand out. While nearly every pot stock is expected to head higher, at least based on Wall Street's price targets, three, in particular, are forecast to triple in value from their current levels. Let's take a closer look to see whether the following three companies are genuine values or fool's gold.