Canopy Growth's Analyst Ratings and Price Target
Canopy Growth (WEED) has a market capitalization of 5.7 billion Canadian dollars. The stock rose ~132.0% to 28.80 Canadian dollars on February 6. Over a one-year period, the positive regulatory sentiment toward the cannabis industry (HMLSF) also garnered price upgrades from analysts. Let’s look at where they stand currently.
The current consensus mean rating for Canopy Growth Corporation stood at 2.6 with an overall “hold” recommendation on the stock for the next-12-month period. Out of the nine analysts surveyed by Reuters, only one has a “strong buy” recommendation while three have a “buy” recommendation on the company.
In the above chart, you can see the analysts’ ratings and price target history for Canopy Growth Corporation over a one-year period. In October 2017, the consensus recommendation was mostly a “buy” for Canopy Growth. However, the price target around that time was also ~15.00 Canadian dollars.
The current mean price target for Canopy Growth Corporation stood at 26.40 Canadian dollars. The price target was about 14.00 Canadian dollars almost a year ago. The median price target of the analysts surveyed was much lower at 22.00 Canadian dollars. Both the mean and the median price targets are below the market price of 28.80 Canadian dollars on February 6.
Next, we’ll discuss recommendations and the price target for Aphria (APHQF).