Canopy Growth (TSE:WEED)‘s stock had its “hold” rating reissued by analysts at Jefferies Financial Group in a report released on Monday, February 25th. They presently have a C$64.00 price target on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 7.49% from the stock’s previous close.
A number of other brokerages have also recently weighed in on WEED. Canaccord Genuity boosted their price objective on Canopy Growth from C$50.00 to C$70.00 and gave the company a “speculative buy” rating in a research note on Tuesday, February 19th. Pi Financial upped their price target on Canopy Growth from C$60.00 to C$70.00 in a research note on Tuesday, February 19th. Finally, CIBC upped their price target on Canopy Growth from C$65.00 to C$75.00 in a research note on Tuesday, February 19th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Canopy Growth presently has an average rating of “Buy” and an average price target of C$67.88.
WEED stock traded down C$1.96 during trading on Monday, hitting C$59.54. 2,788,500 shares of the company’s stock were exchanged, compared to its average volume of 3,464,946. The company has a quick ratio of 17.01, a current ratio of 17.85 and a debt-to-equity ratio of 10.66. Canopy Growth has a 52-week low of C$23.88 and a 52-week high of C$76.68. The stock has a market cap of $20.42 billion and a price-to-earnings ratio of -33.23.
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, Bedrocan Canada, CraftGrow, and Foria brand names.
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