The first Wall Street bank to follow marijuana stocks just added 2 major names to its coverage universe. Here's what it's saying.

Ticker: ACB

Rating: Outperform

Price target: 14 Canadian dollars

Potential upside: +46%

Cowen comment:

"As one of the largest manufacturers, ACB is well positioned to benefit from the growing medical and adult use cannabis industry in Canada (CAD $12 billion by 2025), particularly given its advantages in capacity and scale," the group said.

"With the largest physical presence outside of Canada among the LPs, ACB is also well positioned to capture share in the $31 bn international medical market. Further, efficiencies from its large- scale production network and near-term operating leverage will allow ACB to be among the first Canadian cannabis companies to reach profitability."

Source: Cowen

A Wall Street bank just started covering 7 marijuana stocks. Here's what it's saying.