The Globe and Mail reports in its Friday edition that Echelon analyst Andrew Semple is sticking with his "hold" call on Cresco Labs. The Globe's David Leeder writes that Mr. Semple knocked his share target back by 50 cents to $2.25. Analysts on average are way ahead of Mr. Semple seeing Cresco Labs shares trading at $5.18. While Mr. Semple saw Cresco Labs' second quarter results as "strong," he sees "relatively fewer immediate growth catalysts" and cautions that investors will need patience for long-term opportunities after its mutual agreement to terminate a $2-billion (U.S.) merger with Columbia Care. Mr. Semple says in a note: "Longer-term, we see significant growth potential in Cresco's states such as Pennsylvania, Ohio, Florida, and New York from potential adult-use market legalization. We exclude adult-use programs in these states from our financial forecasts and valuation model as we await regulatory catalysts. In the case of New York which has already legalized adult-use, we are looking for a clear start date for former medical operations (such as Cresco) to be allowed to enter the adult-use market. Regulators are eyeing December, 2023, or January, 2024, to allow medical companies to launch adult-use sales."