Canopy Growth (CGC) Gets a Hold Rating from Oppenheimer

Oppenheimer analyst Rupesh Parikh assigned a Hold rating to Canopy Growth (CGCResearch Report) today. The company’s shares closed last Thursday at $28.65.

According to TipRanks.com, Parikh is a 5-star analyst with an average return of 14.5% and a 67.5% success rate. Parikh covers the Consumer Goods sector, focusing on stocks such as Bj’s Wholesale Club Holdings, The Estée Lauder Companies, and Albertsons Companies.

The word on The Street in general, suggests a Hold analyst consensus rating for Canopy Growth with a $38.22 average price target, implying a 26.9% upside from current levels. In a report issued on April 5, CIBC also maintained a Hold rating on the stock with a C$55.00 price target.

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The company has a one-year high of $56.50 and a one-year low of $12.95. Currently, Canopy Growth has an average volume of 6.21M.

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Canopy Growth Corp. engages in the production and sale of medical cannabis. The company offers products including oils and concentrates, soft gel capsules and hemp. It focuses on the treatment of 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.