16 Oct

Analysts Are Bullish on HEXO in October

WRITTEN BY Adam Jones FEATURED IN Wall Street Ratings

HEXO

HEXO (HEXO), which has a partnership with Molson Coors, rose almost 5.4% on October 15 to 8.95 Canadian dollars. The company was formerly known as Hydropothecary and is one of the five cannabis companies (HMMJ) besides Canopy Growth (CGC) (WEED), Tilray (TLRY), and Aphria (APHQFM) to secure a supply agreement with the province of Quebec. Let’s look at analysts’ recommendation and price target for the stock below.

Analysts Are Bullish on HEXO in October

Analyst recommendation

In the current month, the overall consensus recommendation on HEXO is a “buy,” which remained unchanged from September. Two analysts continued to have a “strong buy” recommendation on the company, while five analysts maintained a “buy” recommendation on the stock.

Price target

The current consensus price target on HEXO in October stood at 8.7 Canadian dollars, which increased slightly from 8.6 Canadian dollars in September. The median price target, however, increased more than 8.9% month-over-month to 8.5 Canadian dollars from 7.8 Canadian dollars. With a close of 8.95 Canadian dollars on October 15, the mean price target of 8.7 Canadian dollars was about 3% lower, indicating that the market is more optimistic than the consensus analyst target.

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