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Cronos Group: Analysts’ Ratings and Target Price

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May. 23 2019, Published 8:03 a.m. ET

Cronos Group’s ratings

Cronos Group (CRON) has experienced an increase in the number of analysts covering the stock. Six analysts covered the stock at the beginning of the year—compared to 11 analysts in May. Let’s look at how analysts’ ratings have changed compared to previous periods.

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Ratings change

In May, the consensus rating for Cronos Group was a “sell,” which largely remained unchanged from the previous month. Analysts have turned more bearish on the stock over the past three months. None of the analysts recommended a “strong buy.” In May, five analysts have maintained a “hold” rating, which largely remained unchanged from the previous month.

The number of analysts recommending a “sell” and a “strong sell” also remained unchanged month-over-month at three and two analysts, respectively.

Target price

While analysts’ ratings remained bearish with a consensus “sell” month-over-month, the consensus target price took a hit. The company’s consensus target price was 19.6 Canadian dollars—lower compared to 21.8 Canadian dollars in April. Cronos Group closed at 21.6 Canadian dollars on May 22, which was close to the target price. On May 22, Cronos Group gained ~3.7%, while the Horizons Marijuana Life Sciences ETF (HMMJ) rose ~1%.

Canopy Growth (WEED) and Aurora Cannabis (ACB) had a “buy” rating in May, while Tilray (TLRY) had a consensus “hold” rating.

To learn more about Canopy Growth’s ratings, read Canopy Growth: Analysts’ Views in May.

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