Next 6-12 months crucial for prediction platforms like Kalshi and Polymarkets
Investing.com - Canaccord Genuity has resumed coverage of High Tide Inc. (NASDAQ:HITI) with a Buy rating and a price target of C$7.25, according to a research note released Wednesday. The stock has shown remarkable momentum, delivering a 78% return over the past year and 65% over the last six months, according to InvestingPro data.
The cannabis retailer operates 207 Canna Cabana stores across Canada and has built a loyalty program with more than 2.15 million members, creating what Canaccord describes as "superior unit economics and recurring traffic" in competitive markets. With annual revenue of $410 million and an 11% year-over-year growth rate, High Tide maintains a "GREAT" financial health score on InvestingPro.
Canaccord analyst Luke Hannan highlighted High Tide’s retail-first business model as a key strength, noting the company’s strategy has positioned it well within Canada’s cannabis retail landscape.
The firm also pointed to potential margin expansion opportunities through High Tide’s white-label brands, alongside international growth catalysts including the company’s Remexian operations in Germany.
Canaccord characterized High Tide as offering a "compelling blend of defensive cash flow and global optionality," with additional upside potential from possible cannabis rescheduling in the United States.
In other recent news, High Tide Inc. announced its Q3 2025 earnings, showcasing a notable increase in revenue and a positive earnings per share (EPS) outcome. The company reported a revenue of $149.7 million, significantly surpassing the forecasted $106.52 million by 40.53%. Additionally, High Tide Inc.’s EPS was $0.01, exceeding expectations of a $-0.01 loss. This performance highlights the company’s strong financial results for the quarter. The earnings report has drawn attention from investors due to its impressive figures. These recent developments are critical for stakeholders evaluating the company’s financial health.
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