Green Thumb’s performance
So far, Green Thumb Industries (GTBIF) is one of the cannabis stocks that is outperforming the benchmark index this year. For example, the stock has returned ~46% YTD (year-to-date) compared to the Horizons Marijuana Life Sciences ETF’s (HMMJ) 39% returns. However, May has been lackluster for the stock, which experienced a decline of 19%. Aphria (APHA), Canopy Growth (WEED), and Aurora Cannabis (ACB) have fallen 10%, 12%, and 4%, respectively.
In May, the overall consensus rating on Green Thumb Industries was a “buy.” One analyst recommended a “strong buy,” while six analysts recommended a “buy” on the stock. The company had fewer analysts covering the stock compared to the above-mentioned peers.
In May, none of the analysts had a “hold” or “sell” recommendation on the stock. Analysts continued to remain bullish about the company’s prospects over the next 12 months.
Analysts’ target price
Analysts’ consensus target price for Green Thumb Industries increased in May to 28.2 Canadian dollars from 27.2 Canadian dollars, which indicates analysts’ bullishness on the stock over the next 12 months. In May, HEXO (HEXO) has seen its consensus target price rise to 10.7 Canadian dollars from 10.3 Canadian dollars in April, which translates to a 3.9% increase.