BMO upgrades Canopy Growth to Outperform

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BMO upgrades Canopy Growth to Outperform on potential sentiment shift 

BMO Capital analyst Tamy Chen upgraded Canopy Growth to Outperform from Market Perform with a price target of C$40, up from C$25.

Following the stock’s notable sell-off last year, driven by a suboptimal recreational product mix and industry-wide challenges, there is potential upside to Street expectations for fiscal Q3, driven by the company’s pivot into a product mix that should now be better aligned with demand,

– Chen tells investors in a research note.

Even a modest beat in Q3 “could begin to shift investor sentiment on the stock,”

– the analyst adds.

At the time of the publication, Canopy Growth trade at C28.39.

This article is written and published by The Cannabis Stock

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