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Trulieve Cannabis

TRLV · NYSE

$10.79+$0.51 (+4.96%)TodayMarket closed ·
Prev close $10.28

TRLV analyst rating

BuyConsensus of 1 analyst over the last 12 months. 100% rate it a buy.
  • Strong buy0
  • Buy1
  • Hold0
  • Underperform0
  • Sell0

12-month price target · 9 analysts

Average $17.92 (+66.1% upside)

Low
$10.87
Now
$10.79
High
$22.05

Upgrades and downgrades

The latest rating actions, newest first

TRLV analyst upgrades, downgrades and rating actions
FirmDateActionRating
Cantor FitzgeraldAug 7, 2026MaintainsOverweight
Cantor FitzgeraldJul 20, 2026InitiatesOverweight

The case for and against

Updated Oct 18, 2026

Bull case

Trulieve Cannabis is well positioned to benefit from a structurally stronger operating backdrop, with the April 2026 rescheduling of medical-use cannabis reducing tax friction and validating its 206 DEA-registered dispensaries and 3.5M sq. ft. of cultivation and production capacity. Its core markets are showing durable momentum, as Florida’s 169 dispensaries, 78% medical customer retention in 1Q26, and 22% share of statewide retail dispensaries are being complemented by accelerating growth in Georgia and Pennsylvania, with 3Q26 revenue guided at $222M. The bullish case is further supported by embedded upside from Texas, where the opportunity could exceed its existing business, plus future adult-use reform, while 6.4x 2027E EV/EBITDA appears to undervalue these catalysts.

Bear case

Trulieve Cannabis is facing a structurally fragile outlook because its revenue is heavily concentrated in Florida, where 3Q sales typically soften as snowbirds leave, making results more seasonal and less predictable. Its growth case also depends on regulatory progress, including final approval of its Texas license and potential adult-use cannabis rescheduling, while the patchwork of state-level rules can delay expansion, alter licensing, and reshape market economics. Even with market-leading profitability and a 2027E EBITDA estimate of $326M, the stock faces competitive and pricing pressure in mature markets like Florida and Arizona, alongside a 64% premium to peers that appears difficult to justify given these execution and policy risks.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.