Desjardins analyst reiterates his “HOLD” on Canopy Growth with a PT of $46

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Last week, John Chu, an analyst at Desjardins, reiterated his “HOLD” recommendation on Canopy Growth in anticipation of the second quarter’s financial statements, which should be released on November 14 before the markets open.

Analyst has revised the sales forecast downward and will adjust its targets following the release of the financial statements

According to John Chu, the potential catalysts are

  • US federal legalization
  • Successful clinical trials
  • Increased exports to Europe
  • Finding a successor Bruce Linton

Its target of $46 is based on 26X FY2023 EBITDA

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