Analyst Ratings Coverage
Canopy Growth ratings and target forecasts for Canopy Growth today:,
Bank of America Merrill Lynch (Rank#19): is advising clients to maintain their current “Sell” position on Canopy Growth. The “Sell” rating indicates a negative outlook for the stock, suggesting that the analysts believe its value may decline. It’s important to note that this rating is specific to Bank of America Merrill Lynch’s analysis and perspective on Canopy Growth at the given time. The accompanying CAD 1 price target suggests that the analysts believe the stock may fall to CAD 1 within a 12 month period.
STA Research (Rank#77) released a research report recommending clients to maintain their existing “Buy” position or potentially increase their holdings of Canopy Growth’s stock. The “Buy” rating indicates a positive outlook for the stock, suggesting that the analysts believe its value has the potential to increase. The CAD 3 price target indicates the research firm’s expectation for the stock’s potential future value, suggesting it may reach CAD 3 or higher over the next 12 month period.
WEED Stock Forecast & Analysis
A comprehensive analysis of the company’s stock forecast, analyst ratings, and recent stock price performance reveals a cautious sentiment prevailing in the market. With 13 analysts providing their forecasts, an average target price of CAD 2.83 over the next 12 months emerges. However, this is accompanied by an “Underperform” rating, signaling concerns regarding the company’s future prospects.
The consensus among 13 analysts for Canopy Growth Corp suggests an average target price of CAD 2.83 over the next 12 months. This figure represents the average expectation of these analysts regarding the stock’s future value.
Stock Target Advisor’s analysis further contributes to the prevailing concerns surrounding Canopy Growth Corp. The “Bearish” outlook is based on 1 positive signal and 7 negative signals, suggesting a negative sentiment towards the stock’s future performance.
The recent stock price performance of Canopy Growth Corp reflects the challenges the company has faced. At the last closing, the stock price stood at CAD 1.45. Over the past week, the stock experienced a modest increase of +1.40%. However, the past month witnessed a significant decline of -20.33%, while the stock’s value plummeted by -95.91% over the last year. These figures indicate a high level of volatility and a prolonged downward trend, which can be attributed to various factors impacting the cannabis industry as a whole.
Several factors contribute to the challenges faced by Canopy Growth Corp. The cannabis industry has encountered regulatory hurdles, changing market dynamics, and intense competition. In addition, the company has grappled with profitability concerns and achieving sustainable growth. These challenges have weighed on investor confidence, resulting in the bearish sentiment reflected in the analyst ratings and price performance.
