Trulieve Cannabis (CSE: TRUL) announced Tuesday an exclusive deal with Khalifa Kush, the cannabis brand of multi-platinum-selling, Grammy Award and Golden Globe Award-nominated recording artist Wiz Khalifa.
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Trulieve is the leading supplier of medical cannabis in Florida, the second-largest medical cannabis market in the United States.
With this partnership, Trulieve becomes the exclusive producer, processor, and retailer of Khalifa Kush branded products.
The cannabis brand will launch in Florida exclusively at Trulieve this summer. The partnership will expand to other markets in 2022.
Management Commentary
Trulieve Chief Marketing Officer Valda Coryat said, “Trulieve is committed to delivering a broad selection of the highest-quality cannabis brands to better serve our patient communities. Khalifa Kush is a respected brand known for top-tier genetics among cannabis connoisseurs. We look forward to becoming the exclusive home of the brand’s premium products in Florida and eventually in other markets.”
Wall Street’s Take
On February 18, Needham analyst Matt McGinley kept a Buy rating on TRUL with a $50 (C$63.81) price target. This implies 118.5% upside potential.
Overall, consensus on the Street is that TRUL is a Strong Buy based on four Buys. The average Trulieve Cannabis price target of C$66.71 implies 128.5% upside potential to current levels.
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