Among cannabis stocks (MJ), Supreme Cannabis (SPRWF) has provided an impressive return of 47% YTD (year-to-date). The company outperformed Aurora Cannabis (ACB), which has returned 37%. Tilray (TLRY) has returned ~12% YTD. Let’s look at analysts’ recommendations for the stock over the next 12-month period.
On February 12, Cormark Securities raised Supreme Cannabis’s target price to a “buy,” which was in line with five analysts’ consensus recommendation of a “buy.” The overall recommendation month-over-month remained largely unchanged. Among the five analysts, two recommended a “strong buy,” while three recommended a “buy” on the stock. None of the analysts recommended a “hold” or a “sell” on the stock in February—similar to the trend in the past year, which you can see in the above chart.
In February, the consensus target price for Supreme Cannabis was slightly lowered month-over-month at 3.31 Canadian dollars—compared to 3.36 Canadian dollars a month ago. The target price will be achieved over the next 12-month period. On February 21, the stock closed at 1.9 Canadian dollars, which implies an upside of 70%.
Next, we’ll discuss analysts’ recommendations and target price for Scotts Miracle-Gro (SMG).