Alliance Global Partners analyst Aaron Grey raised the firm’s price target on GrowGeneration to $45 from $30 and keeps a Buy rating on the shares. The analyst believes the company will “meaningfully” raise its 2021 guidance given the benefits from underlying cannabis growth, including adult-use sales beginning in states such as Arizona, Maine and New Jersey. GrowGeneration offers investors one of the few stocks traded on a major exchange that provides exposure to the U.S. cannabis sector and will continue to build momentum into 2021, Grey tells investors in a research note.
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