New York-based investment banking company Jefferies Group is initiating coverage of seven U.S. pot stocks — Curaleaf, Green Thumb, Trulieve, Cresco, Columbia Care, TerrAscend and Ayr Strategies — and upgraded them all to a “buy” rating, reports BNN Bloomberg.
‘Generational wealth opportunity’
Jefferies analysts issued 12-month target prices between $17 and $80 for each pick, and notably called the US industry as a whole a “generational wealth opportunity.”
“I’ve never seen such bullish terms used to describe this,” commented BNN Bloomberg’s David George-Cosh.
Glorious growth on the horizon
The US market is already pulling in about $17 billion annually. Jefferies predicts that could grow to $60 billion by 2030 if federal legalization happens within five years and if the market continues to grow at 14% each year.
And don’t forget about the big money
Institutional investment is sure to drive more growth, too, once federal legalization happens, which Jefferies predicts will happen by 2026.
Let’s hope change — and growth — comes even earlier.