- Verano is one of the premier multi-state operators in the high-growth cannabis industry with active operations in 11 states.
- Shares are trading at 7.6x FY22 EBITDA which is very attractive considering the Company’s top-line growth (+135% in FY21) and EBITDA margin profile (+46% in FY21).
- The technical overhangs that weigh on Verano’s share price will likely be resolved in the coming years, bringing a surge of new investor capital into the stock.
- On a fundamental basis, we see over 70% upside in our base case and over 270% upside in our bull case.
For further details see:
Verano Holdings: An Underappreciated MSO In The U.S. Cannabis Industry.