Canopy Growth (TSE:WEED) PT Set at C$14.00 by Barclays

Canopy Growth (TSE:WEED) has been assigned a C$14.00 target price by analysts at Barclays in a research report issued on Wednesday, BayStreet.CA reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential downside of 7.71% from the company’s previous close.

WEED has been the subject of several other research reports. Jefferies Financial Group reiterated a “hold” rating on shares of Canopy Growth in a research note on Thursday, August 12th. MKM Partners lowered their price objective on shares of Canopy Growth from C$51.00 to C$28.00 and set a “buy” rating for the company in a research note on Tuesday, November 9th. Cowen reiterated a “buy” rating on shares of Canopy Growth in a research note on Tuesday, November 9th. Stifel Nicolaus lifted their price objective on shares of Canopy Growth from C$12.00 to C$14.00 in a research note on Monday, November 8th. Finally, CIBC downgraded shares of Canopy Growth from a “neutral” rating to a “sell” rating and reduced their price target for the company from C$22.00 to C$12.00 in a research report on Monday, November 8th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$21.17.

TSE:WEED opened at C$15.17 on Wednesday. The company has a fifty day moving average of C$16.80 and a 200-day moving average of C$22.82. The firm has a market capitalization of C$5.97 billion and a P/E ratio of -4.42. The company has a quick ratio of 7.98, a current ratio of 9.63 and a debt-to-equity ratio of 38.32. Canopy Growth has a twelve month low of C$14.08 and a twelve month high of C$71.60.

Canopy Growth Company Profile

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.

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Analyst Recommendations for Canopy Growth (TSE:WEED)

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