Analysts Set Canopy Growth Corp (TSE:WEED) Target Price at C$5.63

Shares of Canopy Growth Corp (TSE:WEEDGet Rating) have been given a consensus recommendation of “Reduce” by the eighteen analysts that are currently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$5.63.

A number of brokerages recently weighed in on WEED. Sanford C. Bernstein reaffirmed an “underperform” rating and set a C$2.00 price objective on shares of Canopy Growth in a research report on Wednesday, November 9th. Barclays lowered their price objective on shares of Canopy Growth to C$2.75 and set an “equal weight” rating for the company in a research report on Friday, September 30th. Jefferies Financial Group boosted their price objective on shares of Canopy Growth from C$4.20 to C$4.95 in a research report on Friday, November 11th. Eight Capital lowered their price objective on shares of Canopy Growth from C$4.00 to C$2.75 and set a “sell” rating for the company in a research report on Monday, August 8th. Finally, Alliance Global Partners boosted their price objective on shares of Canopy Growth from C$4.00 to C$4.50 in a research report on Thursday, November 10th.

Canopy Growth Price Performance

WEED opened at C$4.73 on Tuesday. The company has a 50-day moving average of C$4.21 and a 200-day moving average of C$4.55. The company has a market capitalization of C$2.30 billion and a P/E ratio of -6.13. Canopy Growth has a 1-year low of C$2.79 and a 1-year high of C$15.24. The company has a debt-to-equity ratio of 89.09, a quick ratio of 2.32 and a current ratio of 2.84.

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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