Canopy Growth Receives a Buy from Cowen & Co.

Canopy Growth (TSX: WEED), the Consumer Goods sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst Vivien Azer from Cowen & Co. reiterated a Buy rating, with a C$45 price target.

According to TipRanks.com, Azer is a 5-star analyst with an average return of 23.0% and a 72.4% success rate. Azer covers the Consumer Goods sector, focusing on stocks such as Constellation Brands Inc, Monster Beverage Corp, and Turning Point Brands.

Currently, the analyst consensus on Canopy Growth is Moderate Buy and the average price target is C$31.13, representing a 1.2% upside.

In a report issued on April 10, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$40 price target.

Canopy Growth’s market cap is currently C$5.7B and has a P/E ratio of 0.

Canopy Growth Corp. supplies unmatched selection of premium medical marijuana, an agricultural product. It products treat symptoms such as chronic pain, seizures, muscle spasms, nausea and loss of appetite. The company was founded by Bruce Linton on August 5, 2009 and is headquartered in Smith Falls, Canada.

The company’s shares closed on Monday at C$30.72.

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