Turning Point Brands initiated with a Buy at Roth MKM

Roth MKM initiated coverage of Turning Point Brands with a Buy rating and $50 price target. Turning Point is a leading house of consumer brands targeting the nicotine, tobacco and cannabis markets, the analyst tells investors in a research note. The firm expects the company to scale into the “rapidly growing modern” oral category as well as the alternative channel serving the $100B U.S. cannabis/hemp industry. Scaling nicotine pouch growth and mix shift will drive a return to high-single-digit revenue and EBITDA growth in 2026, contends Roth.