Pi Financial Cuts Canopy Growth (TSE:WEED) Price Target to C$25.00

Canopy Growth (TSE:WEED) had its target price reduced by investment analysts at Pi Financial from C$35.00 to C$25.00 in a report issued on Wednesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Pi Financial’s target price suggests a potential downside of 7.51% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Benchmark cut their price objective on Canopy Growth from C$100.00 to C$60.00 in a report on Friday, August 16th. CIBC lowered their target price on Canopy Growth from C$45.00 to C$30.00 in a research report on Friday, November 15th. Canaccord Genuity lowered their target price on Canopy Growth from C$70.00 to C$60.00 in a research report on Friday, August 16th. Cormark lowered Canopy Growth from a “buy” rating to a “market perform” rating and lowered their target price for the stock from C$55.00 to C$48.00 in a research report on Friday, August 16th. Finally, Jefferies Financial Group lowered their target price on Canopy Growth from C$77.00 to C$25.00 in a research report on Friday, October 11th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of C$49.90.

TSE WEED opened at C$27.03 on Wednesday. The company has a quick ratio of 8.80, a current ratio of 10.37 and a debt-to-equity ratio of 37.27. Canopy Growth has a twelve month low of C$18.23 and a twelve month high of C$70.98. The company has a market cap of $8.04 billion and a price-to-earnings ratio of -4.35. The business’s fifty day moving average is C$26.49 and its 200 day moving average is C$41.86.

In related news, Senior Officer Ru Wadasinghe sold 33,334 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of C$35.28, for a total transaction of C$1,176,023.52. Following the completion of the transaction, the insider now directly owns 33,334 shares of the company’s stock, valued at approximately C$1,176,023.52.

About Canopy Growth

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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