The Globe and Mail reports in its Thursday, July 6, edition that ATB Capital Markets analyst Frederico Gomes has resumed coverage of Curaleaf Holdings with an "outperform" recommendation and $9 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $9.18. Mr. Gomes sees U.S. cannabis multistate operators as "undervalued on fundamentals," however, near-term catalysts are dependent on regulatory changes that do not appear to be imminent. Mr. Gomes says in a note: "We believe CURA will remain a top-quartile performer among MSOs. ... We think CURA can capture margin and benefit from adult-use legalization in catalyst states such as Florida and Pennsylvania. In a potentially federally legal industry, CURA (as a top five MSO) could attract capital as new investments flow into the space and consolidation occurs. In addition to the U.S., CURA is the only MSO with relevant international exposure, and we expect international sales to become a key long-term growth driver, mostly due to regulatory changes in Germany. Near term, we believe the company will generate low sales growth but meaningful FCF in 2023 through prudent working capital and capex management."