Over the last 12 months, Canopy Growth Corp (NYSE: CGC) (TSE: WEED) shares have fallen nearly 55%. The cannabis company reported second quarter results Thursday, posting net revenue of CA$76.6 million and a net loss of CA$374.6 million.
- Canaccord Genuity Downgrades Canopy Growth to Hold from Speculative Buy, Cuts PT to C$25 from C$40
- Bank of America Merrill Lynch’s Christopher Carey reiterated a Neutral rating on Canopy Growth and lowered the price objective to C$24 from C$30
- Benchmark’s Mike Hickey maintained a Buy rating and reduced the price target to C$30 from C$60
- Desjardins Cuts Price Target for Hold-Rated Canopy Growth to C$27 from C$46
- Cantor Fitzgerald Lowers Price Target for Neutral-Rated Canopy Growth to C$18.90 From C$27
- Jefferies Lifts Price Target for Underperform-Rated Canopy Growth to C$25 from C$24.77
- BMO Capital Reduces Canopy Growth’s Price Target to C$25 From C$35, Maintains Market Perform Rating
- Compass Point Drops Price Target for Neutral-Rated Canopy Growth to C$22.49 From C$31.94
- MKM Partners Reduces Price Target for Neutral-Rated Canopy Growth to C$23 From C$30
- Stifel Nicolaus Lowers Price Target for Buy-Rated Canopy Growth to C$30 From C$34
- Alliance Global Partners Downgrades Canopy Growth to Hold From Buy, Lowers PT to C$22 From C$55
About Canopy Growth
Canopy Growth Corporation, together with its subsidiaries, engages in engages in production, distribution, and sale of cannabis in Canada. It operates through two segments, Cannabis Operations and Canopy Rivers. The company’s products include dried flowers, oils and concentrates, softgel capsules, and hemps. It offers its products under the Tweed, Spectrum, DNA Genetics, CraftGrow, Tokyo Smoke, DOJA, Van der Pop, and Maitri brands. The company also provides growth capital and a strategic support platform that pursues investment opportunities in the global cannabis sector. Canopy Growth Corporation has a clinical research partnership with NEEKA Health Canada to investigate the efficacy of cannabinoids for the treatment of post-concussion neurological diseases in former NHL players; partnership with Parent Action on Drugs; and a collaboration with Cure Pharmaceutical Holding Corp. for the development of low-dose cannabidiol oral thin films. The company was formerly known as Tweed Marijuana Inc. and changed its name to Canopy Growth Corporation in September 2015. Canopy Growth Corporation is headquartered in Smiths Falls, Canada.