5 Best Tobacco and Cigarette Stocks to Invest In

2. High Tide Inc. (NASDAQ:HITI)

High Tide Inc. (NASDAQ:HITI) is one of the 10 best tobacco and cigarette stocks to invest in.

As of the April 15 close, High Tide Inc. (NASDAQ:HITI) had a strongly bullish consensus sentiment. The stock received coverage from 5 analysts, all of whom assigned Buy ratings. With a median 1-year target price of $5.18, it currently offers more than 121% potential upside to investors.

On March 19, Canaccord Genuity reiterated its Buy rating for High Tide Inc. (NASDAQ:HITI). The firm also increased the target price on the stock from $5.08 to $5.26, resulting in an adjusted upside potential of almost 126%.

Back on March 4, High Tide Inc. (NASDAQ:HITI) and its subsidiary, NuLeaf Naturals, became inaugural members of the National Compassionate Care Council. The council consists of healthcare-oriented organizations operating within the medicinal cannabis industry that emphasize quality, research, and patient results.

The CEO of High Tide, Raj Grover, stated that the United States’ policy regarding cannabis is undergoing an important transformation. Grover observed that by creating health-oriented brands such as NuLeaf Naturals and FAB CBD, his company has established itself as an expert in meeting the needs of consumers interested in cannabinoid-based treatments under appropriate regulation. Grover stated that the company would be able to assist in the development of medical marijuana policies at the federal and state levels, ensuring better access to such treatments for patients.

High Tide Inc. (NASDAQ:HITI) operates within the cannabis retail industry, with operations around the globe. The company runs its business through three channels, which include physical stores, e-commerce, and medical cannabis distribution. Its portfolio involves the production and sales of products derived from cannabis and hemp, consumption accessories, advertising services, and more.