Cantor Lowers Price Target On Trulieve But The Stock Is Still Their Top Pick Among MSOs

Trulieve Corp. (OTCQX: TCNNF) revealed its Q3 financial results last month reporting net revenue of $224.1 million, up by 64% from the same period in 2020. Adjusted EBITDA was $98.0 million, or 43.7% of revenue.

Net income was $18.6 million, impacted by $16.4 million of one-time compensation and transaction costs primarily associated with the Harvest acquisition. Trulieve and Harvest combined third-quarter revenue amounting to around $316 million, net loss to approximately $9.8 million and adjusted EBITDA to $121 million.

Soon after the company announced the news of TruTonic, its new drink powder, and that it was soon to launch Bhang (OTCQB: BHNGF) in Florida, making these award-winning gourmet …

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