Canopy Growth (WEED) Trading 0.5% Higher After Analyst Upgrade

Canopy Growth Co. (TSE:WEED) rose 0.5% during mid-day trading on Monday after Eight Capital raised their price target on the stock from C$18.00 to C$22.00. The stock traded as high as C$19.24 and last traded at C$19.04. Approximately 2,487,292 shares were traded during trading, a decline of 7% from the average daily volume of 2,679,792 shares. The stock had previously closed at C$18.95.

A number of other equities research analysts also recently weighed in on the company. Canaccord Genuity boosted their price target on Canopy Growth from C$11.00 to C$14.00 and gave the company a “hold” rating in a report on Tuesday, October 31st. Beacon Securities downgraded Canopy Growth from a “buy” rating to a “hold” rating and set a C$16.50 price target for the company. in a report on Monday, November 13th.

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Canopy Growth Company Profile

Canopy Growth Corporation, through its subsidiaries, produces and sells medical marijuana in Canada. The company offers dried, oil, and softgel cannabis products. Canopy Growth Corporation also sells its products through online. The company was formerly known as Tweed Marijuana Inc and changed its name to Canopy Growth Corporation in September 2015.

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