Analysts’ view

After Canopy Growth’s (WEED) (CGC) fiscal 2019 fourth-quarter earnings release, its consensus price target trended lower as analysts adjusted their expectations on the back of its earnings results.

Canopy Growth’s Consensus Price Target Falls after Its Q4 Release

Price target lowered

A total of 20 analysts were covering the stock in June compared to 18 in the previous month. After the company’s earnings release, the consensus price target for its stock fell to 72.3 Canadian dollars from its level of 76.7 Canadian dollars in May, representing a fall of ~5.7%—a larger correction in its price target in percentage terms than in the previous year, in which the stock’s consensus price target was gradually raised from ~40 Canadian dollars.

Canopy Growth closed at 53.3 Canadian dollars on June 21. Its current revised price target means a potential upside of ~35.6% over the next 12 months.

Ratings

While Canopy Growth’s consensus price target has fallen in the current month, the consensus remains bullish on the stock, with its overall “buy” rating unchanged from the period before its earnings release. Of the 20 analysts covering the stock, four analysts have given it “strong buys” (up by one from before its earnings release), and eight have maintained “buy” ratings on the stock.

Seven analysts have “hold” ratings on the stock (up from six before the company’s earnings release), and one analyst has maintained a “sell” on the stock.

On June 21, Cronos Group (CRON) had a “hold” rating with a price target of 20.2 Canadian dollars, Aurora Cannabis (ACB) had a “buy” rating with a price target of 14.3 Canadian dollars, and Tilray (TLRY) had a “hold” rating with a price target of $82.1.

Latest articles

Apple (AAPL) investors have had a roller coaster week. Apple stock has lost just under 2% in a week, ending on August 23, 2019.

Competition taking a toll on Netflix as its share of US subscription video streaming market keep falling as rivals gain ground.

Crude oil production continues to rise, and oil prices remain at $50. Despite that, US energy stocks aren’t getting investors’ interest.

Apple stock fell 4.6% as the US-China trade war intensified today. China warned of tariffs on more US goods, followed by Trump's tweeted response.

In response to new tariffs from China and President Trump's tweets, the market tanked to session lows on Friday. The DJIA nosedived more than 600 points.

Coverage on Cresco Labs has increased from seven analysts in July to nine in August. Six analysts favor a “strong buy,” and three recommend a “buy.”