24 May

HEXO’s Target Price Gets an Upgrade in May


HEXO has outperformed

Investors closely following the cannabis industry know that HEXO (HEXO) is one of the best-performing stocks in the sector. The company has returned ~87% since the start of this year, and it’s continued to hold onto its gains even amid the weakness in the sector.

Let’s look at the analysts’ consensus ratings on the stock along with its price target.

HEXO’s Target Price Gets an Upgrade in May

Analysts’ ratings

Analysts’ consensus rating for HEXO in the current month is a “buy.” Four analysts have given it “strong buy” ratings, while eight have given it “buys.” One analyst has a “hold” on the stock, and one has given it a “sell.” HEXO’s peer Cronos Group (CRON), on the other hand, has a consensus “sell” rating in May, while Canopy Growth (WEED) and Aurora Cannabis (ACB) both carry consensus “buy” ratings.

Target price

HEXO has seen its consensus target price rise to 10.7 Canadian dollars this month from 10.3 Canadian dollars last month, translating to a 3.9% increase. HEXO closed at 8.9 Canadian dollars on May 23, indicating a potential upside of 19%. The Horizons Marijuana Life Sciences ETF (HMMJ) has returned ~35% so far in 2019.

Latest articles

19 Jul

Afya's IPO Sees Strong Listing Gains

WRITTEN BY Mohit Oberoi, CFA

Afya (AFYA) listed on the Nasdaq Global Select Market on July 19. The company priced its IPO at $19 per share.

19 Jul

What to Watch For in Amazon's Q2 Earnings

WRITTEN BY Sanmit Amin

e-Commerce giant Amazon (AMZN) is scheduled to report its second-quarter earnings results after the closing bell on July 25.

19 Jul

Barrick Gold Reaches Deal to Buy Acacia Mining

WRITTEN BY Anuradha Garg

After a long standoff, Barrick Gold (GOLD) and Acacia Mining (ABGLF) have reached an agreement.

19 Jul

Comcast Shares Pop on Goldman's Optimism

WRITTEN BY Ruchi Gupta

Comcast (CMCSA) shares popped after Goldman Sachs issued a positive note on the company recently. Goldman upgraded its rating for Comcast to "buy" from "hold."

19 Jul

Why Analysts Are Bearish on Netflix Stock

WRITTEN BY Aditya Raghunath

Netflix stock fell over 10.0% on Thursday and is down 0.5% today as well.

On Thursday, pet retailer Chewy (CHWY) reported its first-quarter results after the market closed. The company reported its earnings for the first time.