CIBC Trims Canopy Growth (TSE:WEED) Target Price to C$6.50

Canopy Growth (TSE:WEEDGet Rating) had its target price decreased by CIBC from C$9.00 to C$6.50 in a research report report published on Thursday, BayStreet.CA reports. CIBC currently has an underperform rating on the stock.

WEED has been the topic of several other research reports. Cfra reaffirmed a hold rating and issued a C$10.00 target price on shares of Canopy Growth in a report on Wednesday, February 9th. Stifel Nicolaus cut their price objective on shares of Canopy Growth from C$7.50 to C$6.00 in a report on Monday, May 2nd. Canaccord Genuity Group cut their price objective on shares of Canopy Growth from C$12.00 to C$10.00 in a report on Thursday, February 10th. MKM Partners cut their price objective on shares of Canopy Growth from C$28.00 to C$17.00 and set a buy rating on the stock in a report on Tuesday, February 8th. Finally, Bank of America cut their price objective on shares of Canopy Growth from C$10.00 to C$8.50 and set an underperform rating on the stock in a report on Thursday, April 7th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of C$10.50.

Shares of TSE:WEED opened at C$7.09 on Thursday. The firm’s 50 day moving average price is C$8.19 and its 200 day moving average price is C$10.41. The stock has a market cap of C$2.83 billion and a price-to-earnings ratio of -5.27. Canopy Growth has a fifty-two week low of C$6.29 and a fifty-two week high of C$32.60. The company has a quick ratio of 6.45, a current ratio of 8.31 and a debt-to-equity ratio of 39.26.

Canopy Growth Company Profile (Get Rating)

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.

Further Reading

Analyst Recommendations for Canopy Growth (TSE:WEED)

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