19 Feb

PI Financial, CIBC, Cormark Upgrade Canopy Growth Price Targets

WRITTEN BY Adam Jones FEATURED IN Wall Street Ratings

Price target upgrades

Canopy Growth (WEED)(CGC) was gaining in the early morning session with a 2.5% change as of 9:43 AM ET after the company received price target upgrades.

PI Financial, CIBC, Cormark Upgrade Canopy Growth Price Targets

Firms that upgraded

Yesterday, Canaccord Genuity upgraded its Canopy Growth price target to 70 Canadian dollars from its previous 50 Canadian dollars, which translated into a nearly 40% increase.

Early this morning, three more firms upgraded their price targets. CIBC Research upgraded its price target to 75 Canadian dollars from 65 Canadian dollars, representing an increase of 15%.

Cormark Securities upgraded its price target to 65 Canadian dollars from 40 Canadian dollars, representing a 62.5% increase. PI Financial raised its price target for Canopy to 70 Canadian dollars from 60 Canadian dollars, representing a 16.7% increase.

On average, the price target upgrades from these four firms rose nearly 30% to ~70 Canadian dollars, which would represent a 12% upside from Canopy Growth’s current price target of 62.5 Canadian dollars this morning.

Early this morning, Cronos Group (CRON) was trading nearly 1.3% higher, Aphria (APHA) was trading about 1% higher, and Aurora Cannabis (ACB) was flat.

To see how Canopy Growth’s price target compares with peers and what the consensus (HMMJ) recommends for the stock, check out Canaccord Genuity Raises Price Target for Canopy Growth.

Latest articles

19 Mar

What to Expect from CannTrust's Q4 Earnings

WRITTEN BY Adam Jones

CannTrust (CTST) announced that it's scheduled to report its fourth-quarter earnings on March 28 before the market opens.

Yesterday, Apple (AAPL) launched a newly upgraded range of its iPad Air and iPad mini devices ahead of its March 25 special event.

19 Mar

Nike Gears Up to Deliver Its Q3 2019 Results

WRITTEN BY Sharon Bailey

Nike (NKE) is scheduled to report its earnings results for the third quarter of fiscal 2019 after the market closes on March 21.

On March 18, Chesapeake Energy’s (CHK) implied volatility was 51.9%, which is ~14.7% less than its 15-day average.

19 Mar

Sprint’s Revenue and Earnings Growth

WRITTEN BY Andrew Smith

Sprint (S) reported an adjusted EPS of $0.06 in the first nine months of fiscal 2018—compared to $0.08 during the same period in fiscal 2017.

19 Mar

Oil Bulls: US Oil Exports Tend to Fall More

WRITTEN BY Robert Scott

On March 18, Brent crude oil May futures settled ~$8.2 higher than the WTI crude oil May futures. On March 11, the spread was ~$9.5.