The company expects these "New Category" products to reach 5 billion British pounds (or $6.4 billion) by 2025.īTI is also a global player. However, the U.K.-based company also has developed non-combustible products such as Vuse vaping products, Velo nicotine pouches and Glo tobacco heating products. That valuation has admittedly become even more attractive, given that SMG shares have been caught up in the market's recent downturn and shed another 20% of its price.īritish American Tobacco ( BTI, $41.84) is best known for cigarette brands such as Lucky Strike, Camel, Pall Mall, Rothmans, and Dunhill. "Further, valuation remains very attractive, as it seems investors are essentially getting Hawthorne for free." Consumer segment during the COVID-19 pandemic should prove largely sustainable, while its Hawthorne hydroponics business is well-positioned for long-term growth despite near-term headwinds," Altobello said in March. "Our Strong Buy rating on the shares of Scotts Miracle-Gro reflects our view that the gains made by its U.S. However, Altobello still rates Scotts a Strong Buy – and believes shares still have 48% upside over the next 12 months. It now expects Hawthorne's sales to fall by 25% this year. Altobello cut the target price by $35 because Scotts cut its 2022 growth estimates for its Hawthorne hydroponics business. In addition, the company's mergers-and-acquisitions specialist, Mark Sims, will become CEO of Etain, pushing aside its founders.īefore Scotts invested in Etain, Raymond James analyst Joseph Altobello lowered his price target on SMG to $150 from $185. With the state legalizing recreational sales expected later in 2022 or early in 2023, the $247 million cash-and-stock acquisition gives the Ohi0-based maker of lawn care and gardening products more direct participation in the cannabis industry. Scotts Miracle-Gro ( SMG, $101.35) made a big splash in the medical marijuana market in late March when affiliates of the company acquired Etain Health, one of New York state's original medical marijuana producers.
Ultimately, the following 10 picks look like the best marijuana stocks (and funds) to benefit from this ongoing growth and maturation.īelieve it or not, one of your favorite garden supply brands is also a way to invest in cannabis.
The long-term prognosis for the cannabis industry is excellent. "This means that for every $1 consumers and patients spend at adult-use stores and dispensaries, an additional $1.80 will be injected into the economy, much of it on a local level." "While federal legalization flounders in Washington, D.C., the American cannabis industry's economic impact could near $100 billion by end of 2022 and nearly $158 billion by 2026," Fortune reported Jenel Stelton-Holtmeier, editor of MJBiz Factbook, tells Fortune. The economic impact is expected to be even more significant. legal cannabis sales at $33 billion – up 32% from 2021 – and $52 billion by 2026. You can thank a growing number of forward-thinking states such as New Jersey, which legalized recreational-use marijuana on April 21. is extremely healthy – and that's despite a continued delay in federal legalization.
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