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Analyst Ratings and Price Targets for Major Cannabis Stocks

Analyst Ratings and Price Targets for Major Cannabis Stocks

In Why Cannabis Stocks Fell in the Week Ended February 2, we discussed how last week’s marketwide shock also negatively impacted cannabis stocks. We also looked at the valuation multiples in the cannabis industry and how they looked stretched.

Cannabis stocks rise

In contrast to last week, cannabis stocks saw positive movement on February 5 and 6. This week, Aurora Cannabis (ACBFF) announced its investment in Liquor Stores N.A. (LIQ), which also fueled investors’ (MJX) optimism.

Among the large players, Canopy Growth (WEED) rose 18.7% to 28.80 Canadian dollars, and Aphria (APHQF) rose 17.6% to 16.60 Canadian dollars on February 6. MedReleaf (LEAF) saw a 7.0% gain and closed at 18.00 Canadian dollars, and Scotts Miracle-Gro (SMG) rose ~1.3% to close at $89.00 on the same day.

Series overview

With so much going on in the cannabis industry, it’s time to take a look at the analysts’ ratings and price targets for the major cannabis stocks. We’ll begin with Canopy Growth.

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