Canopy Growth Corp (WEED) Lowered to “Sell” at Canaccord Genuity
Canopy Growth Corp (TSE:WEED) was downgraded by equities research analysts at Canaccord Genuity from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday. They currently have a C$11.00 target price on the stock, up from their prior target price of C$9.50. Canaccord Genuity’s price objective indicates a potential downside of 15.84% from the stock’s previous close.
Separately, Cowen and Company cut their price target on shares of Canopy Growth Corp from C$15.00 to C$10.00 in a report on Wednesday, June 14th.
Shares of Canopy Growth Corp (TSE WEED) traded down 3.83% during mid-day trading on Thursday, reaching $13.07. The company had a trading volume of 6,177,124 shares. The company’s 50-day moving average is $10.40 and its 200 day moving average is $9.11. The stock’s market capitalization is $2.19 billion. Canopy Growth Corp has a 52-week low of $5.44 and a 52-week high of $17.86.
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About Canopy Growth Corp
Canopy Growth Corporation, through its subsidiaries, produces and sells medical marijuana in Canada. The company offers dried, oil, and softgel cannabis products. Canopy Growth Corporation also sells its products through online. The company was formerly known as Tweed Marijuana Inc and changed its name to Canopy Growth Corporation in September 2015.
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