In a new note to investors on November 15, an analyst has provided a rating update for Canopy Growth Corporation (WEED). On November 15, analyst Graeme Kreindler gave a Buy rating to WEED and set a C$100 price target.
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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Canopy Growth Corporation with a C$77.33 average price target, representing a 79.4% upside. In a report issued on November 16, GMP FirstEnergy also maintained a Buy rating on the stock.
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Based on Canopy Growth Corporation’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$337 million. In comparison, last year the company had a GAAP net loss of C$1.34 million.
Canopy Growth Corp. engages in the production and sale of medical cannabis. The company offers products including oils and concentrates, soft gel capsules, and hemp. It focuses on the treatment of chronic pain, seizures, muscle spasms, nausea, and loss of appetite.
The company’s shares closed on Monday at C$43.10.
