Canaccord Genuity Thinks Acreage Holdings’ Stock is Going to Recover

By Carrie Williams

Canaccord Genuity analyst Matt Bottomley maintained a Buy rating on Acreage Holdings (ACRGFResearch Report) yesterday and set a price target of $6.00. The company’s shares closed last Friday at $2.59, close to its 52-week low of $1.47.

According to TipRanks.com, Bottomley is a 3-star analyst with an average return of 1.1% and a 46.7% success rate. Bottomley covers the Industrial Goods sector, focusing on stocks such as The Supreme Cannabis Company, Harvest Health & Recreation, and Vireo Health International.

Currently, the analyst consensus on Acreage Holdings is a Strong Buy with an average price target of $4.25, a 47.6% upside from current levels. In a report issued on June 26, MKM Partners also maintained a Buy rating on the stock with a $5.00 price target.

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The company has a one-year high of $17.01 and a one-year low of $1.47. Currently, Acreage Holdings has an average volume of 453K.

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Acreage Holdings, Inc. engages in owning and operating cannabis licenses and assets in the U.S. with respect to the number of states with cannabis related licenses. It focuses on the cultivation, processing, and distribution operations. The company was founded by Kevin P. Murphy on July 12, 1989 and is headquartered in New York, NY.