Wall Street Analysts Predict These 3 Cannabis Stocks are Poised to Surge by More Than 50%

Investing in nascent industries always carries certain risks. Alternatively, if the company is successful in gaining traction in an expanding market it can deliver exponential gains to long-term investors. One such industry is cannabis…

Consumers and investors are hopeful that within the not-too-distant future the U.S. government will decriminalize or even legalize recreational cannabis use at the federal level. If that were to occur, it would be quite bullish for marijuana stocks.

WIth that in mind, today we’re going to take a look at three cannabis stocks that Wall Street is bullish on right now.

Curaleaf Holdings (OTC: CURLF)

In the first quarter of 2021, Curaleaf reported sales of $260.4 million, an increase of 170% year over year compared to revenue of just $96.5 million in the prior year period. Sales were also higher by 13% on a sequential basis. Despite its stellar top-line growth, Curaleaf reported a net loss of $17.2 million or $0.03 share higher than its prior-year loss of $15.1 million but narrower than its Q4 of 2020 loss of $35.3 million or $0.05 per share.

Its adjusted EBITDA more than tripled to $62.6 million in Q1 and the company ended the quarter with a cash balance of $315 million, up from just $73.5 million at the end of 2020.

Curaleaf attributed its solid revenue growth to a 231% increase in retail cannabis sales that grew to $188 million. Cannabis sales gained momentum due to the opening of new stores in several states.

In Q2, Curaleaf has forecast sales between $305 million and $315 million allowing it to exit the quarter in the green in terms of net income and operating cash flows. Curaleaf confirmed that the recent approvals of adult-use cannabis in the states of New York and New Jersey will unlock new markets. It forecasts the New York market to total $5 billion in annual sales while this figure for New Jersey is forecast at $2 billion.

Analysts covering the stock have a 12-month average price target of $23.12 for Curaleaf stock which is 55% higher than its current trading price.

CV Sciences (CVSI)

A U.S.-based life sciences company, CV Sciences has two business segments which include Consumer Products and Specialty Pharmaceutical. The Consumer Products business develops, manufactures, and markets plant-based dietary supplements as well as hemp-based CBD (cannabidiol) products under the PlusCBD brand name. Comparatively, the Specialty Pharmaceutical segment develops CBD products to treat medical indications.

A micro-cap stock valued at a market cap of just $42 million, CV Sciences has…

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