Canopy Growth (WEED:TSX) Analysts Downgrade target and rating

The forecast for Canopy Growth Corp's stock presents a mixed picture, with uncertainty prevailing among analysts. According to data from 9 analysts, the average analyst target price for Canopy Growth Corp is currently unavailable for the next 12 months. Similarly, the average analyst rating for the company is also not available, indicating a lack of consensus among analysts regarding the stock's outlook. In contrast, Stock Target Advisor's own analysis of Canopy Growth Corp leans bearish, reflecting a negative sentiment towards the stock. This bearish outlook is based on 1 positive signal and 8 negative signals identified by Stock Target Advisor's proprietary analysis model. These signals may include factors such as technical indicators, fundamental metrics, and market sentiment. As of the latest market close, Canopy Growth Corp's stock price was CAD 5.38. However, the stock has experienced significant declines over various time frames, including a decrease of -14.33% over the past week, -9.58% over the past month, and a staggering -96.46% over the last year. These downward trends suggest challenges and volatility in Canopy Growth Corp's performance, potentially contributing to the negative sentiment among analysts and investors. Investors considering Canopy Growth Corp should proceed with caution and conduct thorough research, taking into account both the lack of consensus among analysts and the bearish signals from Stock Target Advisor's analysis. Additionally, monitoring market developments and company-specific news can provide valuable insights into the stock's trajectory in the future.

Analyst Ratings Coverage

In recent updates from various research companies, Morningstar has maintained its “Hold” rating for Canopy Growth with a target price of CAD 10, as of February 12, 2024. This suggests a neutral stance on the stock’s performance in the near term.

STA Research downgraded its rating  from a “Hold” to a “Sell” on the same date, with a revised target price of CAD 6. This downgrade indicates a more pessimistic outlook on the stock’s future performance, advising investors to consider divesting or selling their positions.

Piper Jaffray Companies also adjusted its target downward, aligning with STA Research’s “Sell” recommendation. The new target price set by Piper Jaffray is CAD 4, indicating further bearishness and reinforcing the notion of selling the stock.

WEED:CA Ratings by Stock Target Advisor

WEED Stock Forecast

The forecast for Canopy Growth Corp’s stock presents a mixed picture, with uncertainty prevailing among analysts. According to data from 9 analysts, the average analyst target price for Canopy Growth Corp is currently unavailable for the next 12 months. Similarly, the average analyst rating for the company is also not available, indicating a lack of consensus among analysts regarding the stock’s outlook.

Stock Target Advisor’s own analysis of Canopy Growth Corp leans bearish, reflecting a negative sentiment towards the stock. This bearish outlook is based on 1 positive signal and 8 negative signals identified by Stock Target Advisor’s proprietary analysis model. These signals may include factors such as technical indicators, fundamental metrics, and market sentiment.

As of the latest market close, Canopy Growth Corp’s stock price was CAD 5.38. However, the stock has experienced significant declines over various time frames, including a decrease of -14.33% over the past week, -9.58% over the past month, and a staggering -96.46% over the last year. These downward trends suggest challenges and volatility in Canopy Growth Corp’s performance, potentially contributing to the negative sentiment among analysts and investors.

Investors considering Canopy Growth Corp should proceed with caution and conduct thorough research, taking into account both the lack of consensus among analysts and the bearish signals from Stock Target Advisor’s analysis. Additionally, monitoring market developments and company-specific news can provide valuable insights into the stock’s trajectory in the future.

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