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iAnthus Capital expected to have 'banner' year in 2018, reckons Canaccord

iAnthus provides financing and operating expertise to marijuana producers with operations in six US states
iAnthus Capital expected to have 'banner' year in 2018, reckons Canaccord
Pictured- a cannabis growing facility

iAnthus Capital Holdings Inc (CNSX:IAN) shares nudged 1% higher on Wednesday as it was reported broker Canaccord Genuity had the company as one of its top picks for 2018.

The Globe and Mail reports that analyst Matt Bottomley targets the shares at C$3.90 (they are currently C$3.34).

iAnthus provides financing and operating expertise to marijuana producers with operations in six US states.

"We continue to hold the view that 2018 will be a banner year for the company as its crown jewel assets in Massachusetts and New York are expected to make meaningful contributions by the back half of the year," said the analyst.

Key drivers include the recreational market in Massachusetts expected to start by mid-2018,  plans to enter the growing New York medical cannabis market via Citiva, and potential optionality in Florida.

"... we believe iAnthus is laying a strong foundation to gain a sizable East Coast presence heading into 2018," added the analyst.

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