Canaccord Genuity Raises Canopy Growth (WEED) Price Target to C$26.00

Canopy Growth (TSE:WEED) had its price objective lifted by investment analysts at Canaccord Genuity from C$18.50 to C$26.00 in a report released on Monday. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity’s price objective points to a potential downside of 6.64% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Cowen increased their price target on Canopy Growth from C$24.00 to C$44.00 in a research report on Monday, January 8th. Eight Capital increased their price target on Canopy Growth from C$18.00 to C$22.00 in a research report on Monday, November 27th. Finally, Beacon Securities downgraded Canopy Growth from a “buy” rating to a “hold” rating and set a C$16.50 price target on the stock. in a research report on Monday, November 13th.

Shares of Canopy Growth (TSE WEED) traded down C$0.32 during mid-day trading on Monday, reaching C$27.85. The company’s stock had a trading volume of 3,844,829 shares, compared to its average volume of 8,531,295. The stock has a market capitalization of $5,390.00, a P/E ratio of -232.42 and a beta of 0.99. Canopy Growth has a 52 week low of C$6.58 and a 52 week high of C$44.00.

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About Canopy Growth

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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