On September 11, CannTrust Holdings (CNTTF) received a favorable report from Canaccord Genuity, which raised the company’s price target from 13 Canadian dollars to 14.5 Canadian dollars. This price target was almost 57% higher than the stock’s closing price of 9.2 Canadian dollars on the day. Let’s look at the consensus price target and recommendations for the stock.
The overall consensus recommendation for CannTrust is a “buy,” which was unchanged from last month. In the current month, three analysts maintained a “strong buy” recommendation on the stock, while five analysts had a “buy” recommendation on the company. The overall consensus recommendation on cannabis stocks is bullish, which is evident in CannTrust and other stocks (HMMJ) such as Canopy Growth (WEED) (CGC) and Aphria (APHQF).
While the recommendation remained unchanged month-over-month, the consensus price target on the company rose from 14.3 Canadian dollars to 17.9 Canadian dollars in September. The consensus appears to be even more bullish on CannTrust than Canaccord Genuity. Compared to the closing on September 11, the consensus price target implies 94% upside on the stock.
Next, we’ll discuss the recommendations and price target for Scotts Miracle-Gro Company (SMG). We have included SMG here, as it is often viewed as a potential cannabis stock.