Canopy Growth Corp (TSE:WEED) Receives C$45.10 Consensus Price Target from Analysts

Canopy Growth Corp (TSE:WEED) has been assigned an average recommendation of “Hold” from the eleven brokerages that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$45.10.

Several equities analysts have recently weighed in on the stock. CIBC decreased their price target on shares of Canopy Growth from C$45.00 to C$30.00 in a research note on Friday, November 15th. Desjardins reissued a “hold” rating and issued a C$46.00 target price on shares of Canopy Growth in a research note on Tuesday, November 5th. Jefferies Financial Group reduced their price objective on shares of Canopy Growth from C$25.00 to C$21.00 in a research report on Thursday, January 2nd. Pi Financial reduced their price objective on shares of Canopy Growth from C$35.00 to C$25.00 and set a “buy” rating for the company in a research report on Wednesday, November 20th. Finally, Laurentian set a C$26.00 price objective on shares of Canopy Growth and gave the stock a “hold” rating in a research report on Tuesday, December 17th.

Shares of WEED stock opened at C$32.57 on Friday. The company has a market capitalization of $10.99 billion and a P/E ratio of -5.66. Canopy Growth has a 52 week low of C$18.23 and a 52 week high of C$70.98. The company’s 50 day moving average price is C$26.57 and its two-hundred day moving average price is C$32.85. 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.

See Also: Compound Annual Growth Rate (CAGR)

Analyst Recommendations for Canopy Growth (TSE:WEED)

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