Curaleaf Holdings Inc.’s stronger-than-expected first-quarter earnings have put the company on track to deliver above-consensus numbers for 2021 and beat its own guidance for full-year revenue of $1.2 billion to $1.3 billion, analysts said Tuesday.
“We see Curaleaf as offering an all-encompassing proposition for cannabis investors given its balance of breadth and depth within US markets, preparation for potential federal legalization, international exposure (via its EMMAC acquisition) and strong balance sheet,” said analysts Aaron Grey and Andrew Bond at Alliance Global Partners. “Furthermore, we believe the company is now positioned to come in at the high-end and potentially beat 2021 sales guidance following the 1Q’s beat and strong 2Q guide (above Street).”
The analysts reiterated their buy rating on Curaleaf stock CURLF, +3.11% CURA, +3.17% and C$29 ($23.99) price target, which is about 71% above its current price.