Cantor Fitzgerald Begins Coverage on Trulieve Cannabis (NYSE:TRLV)

Key Points

• Cantor Fitzgerald initiated coverage on Trulieve Cannabis with an overweight rating and a $15 price target, implying about 70.7% upside from the current share price.
• Other analysts have been mixed on the stock: Zacks upgraded it to hold, Wall Street Zen downgraded it from strong-buy to buy, and Weiss Ratings started coverage with a sell (d-) rating. Overall, MarketBeat shows an average rating of hold with a $15 average target.
• Trulieve shares were trading around $8.79, near the middle of their 52-week range of $4.00 to $13.28, while CEO Kim A. Rivers sold 400,000 shares in a pre-arranged transaction worth about $3.27 million.

Research analysts at Cantor Fitzgerald assumed coverage on shares of Trulieve Cannabis (NYSE:TRLV - Get Free Report) in a report issued on Monday, Marketbeat Ratings reports. The firm set an "overweight" rating and a $15.00 price target on the stock. Cantor Fitzgerald's price objective would suggest a potential upside of 70.69% from the stock's current price.

A number of other analysts also recently issued reports on TRLV. Zacks Research upgraded Trulieve Cannabis to a "hold" rating in a research report on Thursday, June 18th. Wall Street Zen cut shares of Trulieve Cannabis from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 12th. Finally, Weiss Ratings began coverage on shares of Trulieve Cannabis in a research note on Tuesday, June 16th. They issued a "sell (d-)" rating on the stock. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $15.00.

Trulieve Cannabis Trading Down 0.0%

NYSE:TRLV opened at $8.79 on Monday. Trulieve Cannabis has a 52-week low of $4.00 and a 52-week high of $13.28.

Insider Buying and Selling

In related news, CEO Kim A. Rivers sold 400,000 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $8.17, for a total value of $3,268,000.00. Following the transaction, the chief executive officer owned 1,913,724 shares of the company's stock, valued at $15,635,125.08. This represents a 17.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,699,007 shares of company stock valued at $14,661,355 over the last quarter. 3.79% of the stock is owned by corporate insiders.

Trulieve Cannabis Company Profile

Trulieve Cannabis Corp. is a vertically integrated cannabis company focused on the cultivation, processing, and retail sale of medical and adult-use cannabis products. The company offers a range of products that may include flower, pre-rolls, concentrates, edibles, vape products, and topicals through its dispensary network and branded product portfolio.

Trulieve's operations have been centered primarily in the United States, with a strong presence in Florida and additional markets in other states where cannabis is legally regulated.

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