Canopy Growth Corp (TSE:WEED) Given Consensus Rating of “Hold” by Brokerages

Canopy Growth Corp (TSE:WEEDGet Rating) has been assigned an average rating of “Hold” from the eighteen analysts that are covering the firm, MarketBeat.com reports. Seven equities research 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 brokers that have issued ratings on the stock in the last year is C$8.16.

WEED has been the topic of several research reports. Stifel Nicolaus cut their price objective on shares of Canopy Growth from C$7.50 to C$6.00 in a report on Monday, May 2nd. CIBC lowered their target price on shares of Canopy Growth from C$5.00 to C$3.00 and set an “underperform” rating for the company in a research note on Monday, July 4th. Jefferies Financial Group lowered their target price on shares of Canopy Growth from C$5.50 to C$4.20 in a research note on Friday. Alliance Global Partners downgraded shares of Canopy Growth to a “hold” rating and lowered their target price for the company from C$11.00 to C$8.00 in a research note on Friday, May 20th. Finally, BMO Capital Markets downgraded shares of Canopy Growth to a “sell” rating and set a C$2.50 target price for the company. in a research note on Wednesday, June 8th.

Canopy Growth Stock Performance

Shares of WEED stock opened at C$4.19 on Friday. The firm has a market cap of C$2.01 billion and a price-to-earnings ratio of -5.43. The company’s 50 day moving average is C$3.91 and its 200 day moving average is C$6.87. The company has a quick ratio of 6.94, a current ratio of 8.16 and a debt-to-equity ratio of 45.18. Canopy Growth has a 52-week low of C$2.79 and a 52-week high of C$23.21.

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.

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Analyst Recommendations for Canopy Growth (TSE:WEED)

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