Cronos Group (CRON) stock recovered well after the report from Citron Research, which had a bearish view on Cronos but had positive views on Canopy Growth (CGC) (WEED) and Tilray (TLRY). Citron Research gave the stock a price target of 3.5 Canadian dollars. However, the market (HMMJ) appears to have shrugged off the firm’s concerns. Let’s look at analysts’ recommendations and price target.
The overall consensus recommendation for Cronos Group is a “hold,” which remained unchanged from last month. Unlike other stocks we reviewed earlier, the stock doesn’t have any “strong buy” recommendations, while two analysts maintained a “buy” recommendation on the stock in September. Also, month-over-month, three analysts maintained a “hold” recommendation on the stock. The stock doesn’t have any “sell” ratings in September.
While the recommendation remained unchanged month-over-month, the consensus price target on the company rose from 8.9 Canadian dollars to 10.9 Canadian dollars in September. However, Cronos Group stock was trading well above this price target. On September 11, the stock closed at 15.7 Canadian dollars, which was almost 55% higher than the current levels.
Next, we’ll discuss the recommendations and price target for Hydropothecary (HEXO).