Oppenheimer Reaffirms Their Hold Rating on HEXO (HEXO)

In a report released today, Rupesh Parikh from Oppenheimer maintained a Hold rating on HEXO (HEXO). The company’s shares closed last Monday at $0.77, close to its 52-week low of $0.62.

According to TipRanks.com, Parikh is a 5-star analyst with an average return of 13.1% and a 58.6% success rate. Parikh covers the Services sector, focusing on stocks such as United Natural Foods, Sprouts Farmers, and Dollar General.

The word on The Street in general, suggests a Hold analyst consensus rating for HEXO with a $1.39 average price target, which is a 98.6% upside from current levels. In a report released yesterday, MKM Partners also maintained a Hold rating on the stock with a C$1.00 price target.

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The company has a one-year high of $8.40 and a one-year low of $0.62. Currently, HEXO has an average volume of 5.34M.

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HEXO Corp. engages in the manufacture, production, and distribution of medicinal marijuana. It offers products through the Time of Day, H2, Decarb, and Exlixir No. 1 brands. The company was founded by Sébastien St. Louis and Adam Miron on October 29, 2013 and is headquartered in Gatineau, Canada.

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