According to the information provided by Bloomberg.com, the seventeen different brokerage firms currently monitoring the progress of the company known as Canopy Growth Corp (TSE: WEED) have collectively assigned the stock the rating of “Hold.” Six equity research analysts have provided a recommendation to sell the stock, three have provided a recommendation to hold the stock, and one has provided a recommendation to buy the stock. The stock currently has an average price target of $5.63, set by brokerages that rated the stock in the previous year. This price target is for the next twelve months.
Recent statements on marijuana have been made available by several research organizations. [Citation needed] [Citation needed] Benchmark stated that they would be lowering their price target on Canopy Growth shares to $3.00. This announcement was made public in a research note published on Wednesday, October 26. In a research report released on November 10, Alliance Global Partners raised their price target for Canopy Growth. The previous price target of $4.00 has been increased to $4.50. Canopy Growth’s target price, which Jefferies Financial Group previously established at $4.20 per share, was raised to $4.95 per share in a research report that was published on November 11 and is available online. The report can be accessed here. Barclays assigned an “equal weight” rating to Canopy Growth; consequently, the investment company reduced its price target to 2.75 Canadian dollars and published the note on September 30. In a research report released on Wednesday, November 9, by Sanford C. Bernstein, the firm rated the shares of Canopy Growth as having an “underperform” performance. In addition, the brokerage firm established a price objective of two dollars and one hundred Canadian cents for the stock.
Shares of WEED were first offered for trading on Friday for $3.55 Canadian each. This example demonstrates a debt-to-equity ratio of 89.09, a quick ratio of 2.32, and a current ratio of 2.84. The fifty-day simple moving average and the 200-day simple moving average for this company come from the same value in Canadian dollars, which is $4.28. During the previous year, Canopy Growth’s share price ranged from a high of C$12.75 to a low of C$12.75. The company is estimated to be worth 1.73 billion Canadian dollars and has a price-to-earnings ratio of -4.60.
In Canada, the cultivation of medical marijuana and its possession and sale are the responsibilities of Canopy Growth Corporation and its subsidiaries. The business offers a wide variety of products, including soft gel capsules, hemp, dried flowers, oils, and concentrates. Some of the brand names under which the company sells its products are Tweed, Black Label, Spectrum Cannabis, DNA Genetics, CraftGrow, and Foria. The company also offers its products under the name Foria. Leaves by Snoop is one of the many other brand names.
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