Canaccord Reaffirms Buy on High Tide Inc. (HITI) Following German Cannabis Push

High Tide Inc. (NASDAQ:HITI) is among the hidden penny stocks to buy now. Analysts at Canaccord Genuity Group have reaffirmed their “Buy” rating on High Tide Inc. (NASDAQ:HITI), while maintaining a price target of $7.25. This optimism stems from the company’s recent initiatives, particularly the expansion into the German cannabis market through the highly accretive acquisition of Remexian.

At the same time, High Tide Inc. (NASDAQ:HITI) has maintained its growth momentum in Canadian cannabis retail, which ultimately strengthens an impressive earnings growth outlook for the company. In just three years, the company delivered a return of 154.68%, compared to the market’s average of 62.39%.

Currently, High Tide Inc. (NASDAQ:HITI) holds the largest share of the Canadian cannabis retail market, operating a network of 207 Canna Cabana cannabis retail stores. What’s even more interesting is that the company leverages a membership program that helps to keep customers coming back for more.

High Tide Inc. (NASDAQ:HITI) is a Canadian cannabis retail business operating through two segments: Bricks and Mortar Operations and E-commerce Operations. Founded in 2009, the company is committed to bringing technology, data, and customer experience together.

While we acknowledge the potential of HITI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

Disclosure: None.