Innovative Industrial price target lowered to $74 from $75 at Alliance Global

Alliance Global Partners lowered the firm’s price target on Innovative Industrial Properties (IIPR) to $74 from $75 and keeps a Neutral rating on the shares. The company reported sales broadly in-line with Street estimates but the current uncertainty within the cannabis market on federal reform or new states legalizing could limit the traditional cannabis pipeline despite Innovative’s “healthy liquidity,” the analyst tells investors in a research note. The firm expects the company’s revenues could be flattish or slightly decline in for 2025.