In a latest note to investors, a research analyst has provided a rating update for the Consumer Goods sector company, Canopy Growth (TSX: WEED). Analyst Vivien Azer from Cowen & Co. remains bullish on the stock and has a C$56 price target.
According to TipRanks.com, Azer is a top 100 analyst with an average return of 26.5% and a 71.1% success rate. Azer covers the Consumer Goods sector, focusing on stocks such as Constellation Brands Inc, Monster Beverage Corp, and Keurig Dr Pepper Inc.
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Canopy Growth has an analyst consensus of Moderate Buy, with a price target consensus of C$43.50, which is a -1.5% downside from current levels. In a report issued on August 15, Canaccord Genuity also upgraded the stock to Buy with a C$50 price target.
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The company has a one-year high of C$48.72 and a one-year low of C$8.36. Currently, Canopy Growth has an average volume of 5.37M.
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 Friday at C$44.18, close to its 52-week high of C$48.72.
