The Globe and Mail reports that analyst Matt Bottomley targets the shares at C$3.90 (they are currently C$3.34).
iAnthus provides financing and operating expertise to marijuana producers with operations in six US states.
"We continue to hold the view that 2018 will be a banner year for the company as its crown jewel assets in Massachusetts and New York are expected to make meaningful contributions by the back half of the year," said the analyst.
Key drivers include the recreational market in Massachusetts expected to start by mid-2018, plans to enter the growing New York medical cannabis market via Citiva, and potential optionality in Florida.
"... we believe iAnthus is laying a strong foundation to gain a sizable East Coast presence heading into 2018," added the analyst.