Morningstar Maintains “Underperform” rating on Canopy Growth

Morningstar Maintains "Underperform" rating on Canopy Growth

Canopy Growth Ratings & Analysis

Morningstar (Analyst Rank #60) maintains the “Underperform” rating, and 12 month target forecast of $9.10 per share on Canopy Growth’s stock.

WEED Stock Forecast & Analysis

Average Analyst Target Price: According to forecasts from 7 analysts, the average target price for Canopy Growth Corp stock is projected to be CAD 7.29 over the next 12 months. This target price is an estimate derived from assessments made by financial experts who consider various factors such as industry trends, company fundamentals, and market conditions to gauge the stock’s potential valuation in the future.

Average Analyst Rating: The average analyst rating for Canopy Growth Corp is categorized as “Under-perform.” This rating suggests a pessimistic outlook among analysts regarding the company’s performance relative to its peers or the broader market. Analysts who provide such a rating typically believe that the stock may underperform compared to expectations, indicating caution or concern about the company’s prospects.

Stock Target Advisor’s Analysis: Stock Target Advisor’s own analysis of Canopy Growth Corp indicates a “Bearish” sentiment, based on 1 positive signal and 8 negative signals. This analysis considers a range of factors including financial metrics, industry trends, competitive positioning, and macroeconomic indicators. A bearish outlook suggests that the stock may face challenges or headwinds in the near term, potentially leading to a decline in its value.

Recent Stock Performance: At the last closing, Canopy Growth Corp’s stock price was reported at CAD 20.45. Over the past week, the stock price experienced a significant increase of +65.86%, while over the past month, it surged by +75.39%. However, looking back over the last year, Canopy Growth Corp’s stock price witnessed a notable decline of -76.63%. These fluctuations in stock price reflect changes in investor sentiment, market dynamics, and company-specific developments over different time periods.

In conclusion, the analysis provided by Stock Target Advisor offers investors valuable insights into Canopy Growth Corp’s stock performance, potential future trajectory, and sentiment among financial analysts. It serves as a useful tool for investors seeking to make informed decisions about their investment strategies.

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