UPDATE: BofA Securities Reinstates Canopy Growth (WEED:CN) (CGC) at Buy
- Google lifts Nasdaq as focus turns to Fed
- Alphabet (GOOGL) Crushes Q2 Expectations to Send Shares Higher as Search and YouTube Excel, Attracts a New Street-High Price Target
- Apple (AAPL) Delivers Blowout Q3 Earnings but Shares Fall on Supply Chain Constraints, Analysts Still Raise PTs
- Microsoft (MSFT) Tops FQ4 Views and Offers Strong Guide Led by Azure, Analysts Raise Numbers and PTs
- Dollar edges higher with all eyes on the Fed
BofA Securities Heather Balsky reinstates coverage on Canopy Growth (WEED:CN) (NASDAQ: CGC) with a Buy rating and a price target of Cdn$45.00.
The analyst comments "We are resuming coverage of Canopy Growth (CGC/YWEED) with a Buy and C$45/US$36 PO. CGC is a producer of cannabis and related products with distribution in Canada, Europe, and the US (non-THC). In our view, the current stock price does not fully value its long-term potential. We think its balance sheet, mgmt team and partnerships position CGC well to enter the US if there is federal legalization. US legalization will likely take time; CGC’s improving EBITDA and cash flow make its shares attractive in the meantime."
You May Also Be Interested In
- Dr. Reddy's Laboratories Ltd. (DRRD:IN) (RDY) PT Lowered to INR5,768 at Macquarie
- Accton Technology Corp. (2345:TT) PT Raised to NT$336 at Morgan Stanley
- Torrent Pharma (TRP:IN) PT Lowered to INR2,730 at HSBC
Create E-mail Alert Related CategoriesAnalyst Comments, Intl Ratings, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!