Canopy Growth Corp (TSE:WEED) Given Average Recommendation of “Hold” by Brokerages

Shares of Canopy Growth Corp (TSE:WEEDGet Rating) have been given a consensus rating of “Hold” by the fifteen analysts that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$11.71.

A number of equities research analysts have issued reports on the stock. CIBC lowered their target price on shares of Canopy Growth from C$12.00 to C$9.00 in a report on Thursday, February 3rd. MKM Partners lowered their target price on shares of Canopy Growth from C$28.00 to C$17.00 and set a “buy” rating on the stock in a report on Tuesday, February 8th. Cowen lowered their target price on shares of Canopy Growth from C$16.00 to C$12.50 and set a “buy” rating on the stock in a report on Thursday, February 10th. Piper Sandler cut shares of Canopy Growth from a “neutral” rating to an “underweight” rating and lowered their target price for the company from C$11.00 to C$7.00 in a report on Monday, December 20th. Finally, Bank of America decreased their price target on shares of Canopy Growth from C$10.00 to C$8.50 and set an “underperform” rating on the stock in a report on Thursday.

Shares of TSE:WEED traded up C$0.01 during mid-day trading on Monday, reaching C$8.45. The company had a trading volume of 1,291,718 shares, compared to its average volume of 2,812,860. The company’s 50-day moving average price is C$9.35 and its 200-day moving average price is C$12.44. The company has a current ratio of 8.31, a quick ratio of 6.45 and a debt-to-equity ratio of 39.26. Canopy Growth has a one year low of C$7.22 and a one year high of C$35.96. The firm has a market cap of C$3.33 billion and a price-to-earnings ratio of -6.20.

About Canopy Growth (Get Rating)

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names.

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Analyst Recommendations for Canopy Growth (TSE:WEED)

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