US cannabis play Cansortium (Cansortium Stock Quote, Chart CSE:TIUM.U) got a coverage launch on Friday from Paradigm Capital\u2019s Rahul Sarugaser, who started out with a \u201cBuy\u201d rating, saying TIUM.U has some of the strongest fundamentals and highest potential for growth among cannabis companies that he has analyzed. \u201cCansortium\u2019s impressive revenue, yielded mainly from Florida, the company\u2019s most mature market, coupled with the high rates at which each of its addressable medical markets are expanding, is a strong dual signal indicating the company\u2019s potential for material near-term growth,\u201d Sarugaser said in a coverage initiation on Friday. \u201cWith world-class regulatory expertise, the intense growth of its current markets, and an ever-expanding footprint of gold-standard operations, we believe TIUM is poised to become an eminent global cannabis company.\u201d Miami, Florida-based Cansortium is a vertically-integrated company for the medical cannabis market in Florida, where it operates ten dispensaries and has 20 more either in development or planned, along with business in Texas, Pennsylvania, Michigan and Puerto Rico as well as in Columbia, Brazil and Canada. Sarugaser says the company has done well in quality assurance and compliance wins giving it early footholds in large, still-emerging markets. \u201cTIUM has made a practice of entering the medical cannabis markets of states and nations on the ground floor\u2014the moment those jurisdictions open their doors for a limited set of cannabis companies to bring about the first incarnation of its medical cannabis program. Typically, these introductory programs are small and meticulously regulated, and, typically, TIUM\u2019s applications for entry are top-ranked among the hundreds of aspiring groups, owing to company\u2019s rich experience in pharmaceutical compliance and operations. TIUM is planting seeds in what will become some of the world\u2019s largest cannabis markets: a gold-standard opportunity in a still fledgling global cannabis arena,\u201d he says. For its fiscal 2018, Cansortium generated $8.1 million in revenue with an EBITDA loss of $13.9 million. Sarugaser thinks the company will generate fiscal 2019 revenue and EBITDA of $69.8 million and $17.7 million, respectively, and fiscal 2020 revenue of $167.4 million and $52.2 million, respectively. (All figures in US dollars unless noted otherwise.) Using a discounted cash flow analysis of net revenue, Sarugaser has come up with a 12-month target price range of between C$2.40 and C$3.40, which at the time of publication represented a return of between 44.7 per cent and 113.8 per cent.