Last week, HEXO (HEXO) was among only a few stocks in the cannabis sector that managed to end in the positive territory with a weekly gain of about 7.4%. The stock has held up pretty well compared to peers Canopy Growth (WEED), Aphria (APHA), and CannTrust (CTST). HEXO has returned about 91% YTD, while WEED, APHA, and CTST have returned 63%, 31%, and 43%, respectively. Let’s look at how analysts (MJ) view HEXO in the current month.
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The consensus rating for HEXO this month has remained a “buy” with four analysts recommending a “strong buy” and seven analysts recommending a “buy.” The number of analysts recommending a “strong buy” increased to four from three, while the number of analysts recommending a “buy” declined from eight to seven. One analyst has a “hold” recommendation, and one analyst has a “sell” rating on the stock.
Last week, HEXO received a price target upgrade to 11 Canadian dollars from 8.3 Canadian dollars from Bryan Garnier & Co. The consensus price target was 10.3 Canadian dollars. Analysts appear more bullish on HEXO, as the current consensus price target is higher than the 9.9 Canadian dollars it was a month ago.