Canopy Growth Corp. /zigman2/quotes/200603886/composite CGC +1.50% /zigman2/quotes/202205609/delayed CA:WEED +1.28% will beat sales estimates when it reports March quarter earnings on Friday, but the stock may benefit more from clear guidance on EBITDA and cash flow, Cantor Fitzgerald said Wednesday. At Cresco Labs, the focus will be second-quarter sales guidance and an an update of the timing and scope of Illinois and Pennsylvania cultivation capacity expansion, said Cantor analyst Pablo Zuanic in a note to clients. Cresco already released guidance for its March quarter sales. Finally,at MedMen "further dilution risk (on top of the 2.2x jump in the share count from Dec to Mar) keeps us sidelined; that said, we expect a COVID-related sales beat, but progress re cash burn may be more important for the stock," Zuanic wrote. The analyst rates Canopy, the Canadian market leader, at Neutral, rates Cresco Overweight and has a neutral rating on MedMen. Canopy shares were down 0.7% premarket, while Cresco and MedMen were not yet active. Canopy has fallen 5% in the year to date, while the Cannabis ETF /zigman2/quotes/213173823/composite THCX +0.43% has fallen 10% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.81% has fallen 7%.