Analyst Ratings Change
CIBC (Rank#13) just issued a research report on June 12th on Canopy Growth Corporation, and has revised its target price to $0.50 per share from the previous estimate of $1.75 per share. The bank has also maintained its “Underperform” rating on Canopy Growth.
The decision to lower the target price reflects CIBC’s pessimistic outlook on Canopy Growth’s performance and future prospects. The bank believes that the company’s current market position and financial performance do not justify a higher valuation. As a result, they have revised their estimates to reflect a much lower target price.
The “Underperform” rating suggests that CIBC expects Canopy Growth to underperform compared to its industry peers. This rating takes into account various factors, including the company’s financial health, competitive positioning, and overall market conditions. CIBC’s assessment indicates that they anticipate challenges for Canopy Growth in the near term.
WEED:TSX Stock Analysis
Based on the Canopy Growth Corp stock forecast from 13 analysts, the average analyst target price for Canopy Growth Corp is CAD 2.47 over the next 12 months. This suggests a potential upside in the stock price from its current level. However, it’s important to note that these target prices are subjective and can vary among analysts based on their individual assessments and methodologies.
The average analyst rating for Canopy Growth Corp is “Underperform,” indicating a consensus view among analysts that the company’s stock is expected to underperform compared to its industry peers. This rating takes into account various factors such as the company’s financial health, growth prospects, competitive positioning, and industry trends.
Stock Target Advisor’s analysis on Canopy Growth Corp is Bearish, which is based on 1 positive signals and 8 negative signals.
As of the last closing, Canopy Growth Corp’s stock price was CAD 0.91. The stock has experienced significant declines, with a change of -20.18% over the past week, -34.53% over the past month, and -96.08% over the last year. These negative price movements indicate a challenging performance for the company’s stock in recent times.
STA Research (StockTargetAdvisor.com) is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI, based on our platform stocktargetadvisor.com, EST 2007.
