HEXO Corp. (HEXO) PT Raised to $7 at Oppenheimer

February 19, 2019 7:50 AM EST
Get Alerts HEXO Hot Sheet
Price: $2.04 --0%

Rating Summary:
    1 Buy, 3 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
Trade Now! 
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Oppenheimer analyst Rupesh Parikh raised the price target on HEXO Corp. (NYSE: HEXO) to $7.00 while maintaining a Outperform rating.

The analyst commented, "HEXO is a branded cannabis producer and consumer products company based in Quebec, Canada. We overall look favorably upon the early efforts by the HEXO management team in developing a foundation to become a leading global CPG player within the cannabis category. These include: 1) establishing an attractive Canadian infrastructure; 2) partnering with leading CPG player, Molson Coors; and 3) early success with new innovations. Over time, we believe this foundation could help the company, a January 2019 IPO, become a leading global cannabis player. Given the significant uncertainty on the developing competitive and regulatory backdrop, we view our recommendation and an investment in the space as more speculative in nature, at least compared to other CPG verticals."

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change, Hot Comments

Related Entities