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How Analysts’ Price Target and Ratings for Cronos Group Changed in March

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Cronos Group

Cronos Group (CRON) recently debuted on the NASDAQ Global Markets, giving it better access to US investors (MJ). Following this news, Cronos stock gained as much ~11%. Cronos stock reached a peak of 12.8 Canadian dollars in March, but yesterday, the stock reached a low of 9.55 Canadian dollars for the month.

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Analyst ratings

As of March 22, the consensus analyst mean rating on Cronos Group was 2.3, which remained unchanged from the previous month. As we can see in the above chart, one analyst continues to have a “strong buy” recommendation and two analysts continue to have a “buy” recommendation on the stock for the next 12-month period.

Also, similar to Aurora Cannabis (ACB), all three of the analysts covering the stock have maintained a “hold” recommendation, in contrast to Canopy Growth (WEED).

Price target

While the analysts’ ratings on Cronos Group remained unchanged month-over-month in March, the consensus mean price target moved higher to 8.3 Canadian dollars from 7.7, while the median price target remained unchanged at six Canadian dollars.

Cronos Group closed at 9.55 Canadian dollars on March 22, which leaves a 13.6% downside on the stock when compared to the mean price target. However, compared to the median price target, the stock has a downside of almost 37% on the stock.

In the next part, we will discuss the changes in ratings and price targets for CannTrust (CNTTF).

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