The Globe and Mail reports in its Thursday, Oct. 27, edition that Canaccord Genuity analyst Matt Bottomley has upgraded his recommendation for Canopy Growth to "buy" from "hold." The Globe's David Leeder writes that Mr. Bottomley boosted his share target by $1.50 to $4.25. Canopy shares soared 25.7 per cent on Tuesday after the company announced it was establishing Canopy USA LLC. The venture will help it exercise its rights to acquire U.S. cannabis companies Acreage, Wanna and Jetty, which it signed deals to take an interest in contingent on federal legalization of THC. Mr. Bottomley says in a note: "We believe the ability to consolidate contributions from its US THC exposure under US GAAP Variable Interest Entity accounting would be a significant benefit to the company. Although we understand that the above arrangements have no impact on Canopy's underlying operations, management has long voiced its concern that the scale of its US THC optionality has not been fully appreciated by the market. As such, we believe the ability for it to include such performance in its earnings could help offset ongoing headwinds in the Canadian market as well as garner more attention from larger pools of capital."