Cannabis Stocks: Analysts’ April Ratings and Price Targets
In recent weeks, we’ve seen some of the major cannabis stocks facing selling pressures, wiping off YTD (year-to-date) gains for most companies. Canopy Growth (WEED), one of the largest cannabis producers in terms of capacity, has fallen nearly 15% YTD. Let’s see how analysts’ ratings and price targets have changed over the last month.
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As of April 12, 2018, the overall mean consensus rating for Canopy Growth is unchanged at 2.6 compared to March. The overall recommendation for the stock is a “hold,” with five analysts recommending a “buy” compared to four in March. For the next 12-month period, three analysts are recommending a “hold” for the stock, and one analyst is recommending a “sell.”
The consensus mean price target for Canopy Growth is $36.80 Canadian, which would mean a potential upside of 33.1% from the closing price of $27.70 Canadian on April 12, 2018. The median price target is even higher at $40 Canadian, resulting in a potential upside of 44%.
In this series, we’ll be looking at the ratings and price target changes for some of the listed cannabis stocks since March. We’ll include Aphria (APHQF), Aurora Cannabis (ACB), MedReleaf (MEDFF), and more.