There are the cannabis giants and then there are the underdogs who, despite great management and solid assets, just don't receive the same amount of attention as their larger counterparts.is one of the underdogs, according to Viridian Capital Advisors analyst Jonathan DeCourcey. Still, he said in a Thursday note that company is his"top MSO pick."
Viridian began coverage of Ayr in January and gave the company a price target of $38. In March, it first said the stock could reach $42. Viridian has a buy rating on the shares. As the cannabis industry has matured, a select few players have broken away from the pack to expand and become profitable, garnering the lion's share of investor dollars.that there are plenty of smaller companies that should be getting more attention and credit.
"For AYR growth stems from both the integration and buildout of expansion states following 2020 acquisitions and continued execution and improved macro conditions in legacy markets," DeCourcey said.Ayr's assets in Massachusetts and Nevada are poised for success, according to Viridian. In Massachusetts in particular, DeCourcey says the company's cultivation expansion plans will help boost Ayr's revenue from about $57 million in 2020 to $102 million this year.
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