Greenlane Holdings Inc. /zigman2/quotes/211319667/composite GNLN -11.79% shares are up about 3% on Tuesday after the Boca Raton, Fla.-based maker of packaging, rolling papers, glass products and grinders for cannabis was initiated with a buy rating and $6 price target by Alliance Global Partners. The ratings move comes after the company completed its acquisition of KushCo Holdings Inc. on Sept. 1. Alliance Global analyst Aaron Grey said the combined company is positioned to capitalize on growth in the cannabis business. Greenlane is currently trading at about 1.1 times estimated calendar 2022 sales, well below other ancillary players. Greenlane stock is down 29% this year compared to a 19.8% gain by the Cannabis ETF /zigman2/quotes/213173823/composite THCX -2.45% and a declined of 10% by the AdvisorShares Pure US Cannabis ETF /zigman2/quotes/220307682/composite MSOS -3.20% .