Canaccord Genuity Boosts Canopy Growth (TSE:WEED) Price Target to C$28.00

Canopy Growth (TSE:WEED) had its price objective increased by Canaccord Genuity from C$25.00 to C$28.00 in a research report sent to investors on Tuesday, BayStreet.CA reports.

Several other equities research analysts also recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Canopy Growth from C$25.00 to C$40.00 and gave the company an outperform rating in a research note on Tuesday, January 28th. Pi Financial downgraded shares of Canopy Growth from a buy rating to a neutral rating and raised their target price for the company from C$25.00 to C$30.00 in a research note on Tuesday. Desjardins reiterated a hold rating and issued a C$46.00 target price on shares of Canopy Growth in a research note on Tuesday, November 5th. Stifel Nicolaus raised their target price on shares of Canopy Growth from C$30.00 to C$35.00 in a research note on Tuesday. Finally, CIBC raised their target price on shares of Canopy Growth from C$30.00 to C$35.00 in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Canopy Growth has an average rating of Hold and a consensus price target of C$44.15.

Shares of TSE:WEED opened at C$29.59 on Tuesday. Canopy Growth has a 52-week low of C$18.23 and a 52-week high of C$70.98. The company has a market capitalization of $10.14 billion and a P/E ratio of -5.14. The company has a 50-day simple moving average of C$28.89 and a 200 day simple moving average of C$29.79. The company has a debt-to-equity ratio of 12.81, a quick ratio of 6.72 and a current ratio of 8.38.

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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