Turning Point Brands initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Turning Point Brands (TPB) with an Outperform rating and $65 price target With a strong portfolio of iconic brands, including Zig-Zag rolling papers and Stoker’s chewing tobacco, Turning Point “represents an interesting investment opportunity,” the analyst tells investors in a research note. The firm says the company has numerous growth opportunities within its core Zig-Zag segment, including expansion into dispensaries, smoke shops and headshops, while the Stoker’s segment enjoys higher prices and share gains.