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Canopy Growth Corporation (WEED.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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42.65-1.88 (-4.22%)
As of 1:14PM EST. Market open.
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Neutralpattern detected
Previous Close44.53
Open44.55
Bid42.58 x 0
Ask42.72 x 0
Day's Range42.17 - 45.23
52 Week Range12.96 - 71.60
Volume539,533
Avg. Volume1,770,774
Market Cap16.228B
Beta (5Y Monthly)2.23
PE Ratio (TTM)N/A
EPS (TTM)-6.43
Earnings DateFeb 09, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est47.27
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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      Jefferies analyst Owen Bennett downgraded Canadian cannabis company Canopy Growth Corp. stock to underperform from hold on Wednesday, and said the stock is too expensive at its current level. "Bulls will argue Canopy's multiple is deserved given possible near term US entry," Bennett wrote in a note to clients. "While its US optionality is the best among Canadian names, it is still too expensive for us." Canopy has an option to acquire U.S. multistate operator Acreage Holdings Inc. , that will be triggered in the event of a change in U.S.' strict cannabis laws. However, Canopy is still loss-making and so is Acreage, wrote Bennett. At the same time, the fundamental outlook for other U.S. incumbents is "far superior." "These are a better way to play US reform," said the analyst. "Canopy's current (US adj.) multiple is 16.6x vs the big US player avg. 5.4x. " Cannabis stocks have been rallying onhopes for U.S. reforms under the new administration, which is deemed to be far more cannabis-friendly than the last one. Canopy shares were up 2.6% premarket, and have gained 74% in the last 12 months, while the Cannabis ETF has gained 87% and the S&P 500 has gained 16%.