Analysts Set Canopy Growth Corp (TSE:WEED) Price Target at C$8.16

Shares of Canopy Growth Corp (TSE:WEEDGet Rating) have received a consensus recommendation of “Hold” from the eighteen analysts that are covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$8.16.

Several equities research analysts recently issued reports on WEED shares. CIBC dropped their price target on Canopy Growth from C$5.00 to C$3.00 and set an “underperform” rating on the stock in a research report on Monday, July 4th. MKM Partners reissued a “buy” rating and set a C$13.00 price target on shares of Canopy Growth in a research report on Wednesday, June 29th. Canaccord Genuity Group dropped their price target on Canopy Growth from C$10.00 to C$6.00 in a research report on Tuesday, May 24th. Jefferies Financial Group dropped their price target on Canopy Growth from C$5.50 to C$4.20 in a research report on Friday, August 12th. Finally, Wedbush dropped their price target on Canopy Growth from C$17.00 to C$13.00 and set a “na” rating on the stock in a research report on Wednesday, June 29th.

Canopy Growth Stock Performance

Shares of WEED opened at C$4.76 on Thursday. The business’s 50 day moving average is C$4.01 and its two-hundred day moving average is C$6.10. Canopy Growth has a 52-week low of C$2.79 and a 52-week high of C$20.06. The firm has a market cap of C$2.28 billion and a price-to-earnings ratio of -6.17. The company has a quick ratio of 3.27, a current ratio of 3.94 and a debt-to-equity ratio of 94.69.

Canopy Growth Company Profile

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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.

Further Reading

Analyst Recommendations for Canopy Growth (TSE:WEED)

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