Greenlane (GNLN, $3.02) shares rating reinstated outperform at Cowen

Shares of Greenlane Holdings  was reinstated outperform rating by analysts at Cowen.

Cowen analysts now have a price target of $5 a share. The analysts are bullish after Greenlane closed its merger with KushCo.  on Sept. 1. "Combined, the company will be a clear leader in the ancillary cannabis space where distinct customer bases should provide a platform for cross-selling opportunities and scale in addition to cost efficiencies," Cowen analysts mentioned in a note.

However, Cowen analysts also mentioned that Greenlane could experience some challenges from port disruptions and shipping delays – factors that were largely responsible for the company’s withdrawal of  its 2021 guidance for between $310 million and $330 million in revenue with a gross margin between 22% and 24%, the analysts said pointed out.