The Globe and Mail reports in its Tuesday, June 13, edition that CIBC analyst John Zamparo continues to rate Canopy Growth "underperformer." The Globe's David Leeder writes in the Eye On Equities column that Mr. Zamparo slashed his share target by $1.25 to 50 cents. Analysts on average target the shares at $2.88. Mr. Zamparo says in a note: "We see a low likelihood of a positive catalyst to reverse Canopy's fortunes and expect WEED to show significant operating losses. WEED faces several hurdles in our view: Canadian retail sales continue to decline, potentially offsetting cost-cutting efforts; BioSteel sales now face uncertainty pending the upcoming restatement. Net debt, already at $400-million, may reach $700-million by year end. Finally, Canopy previously carried industrywide flagship status, which meant strong performance from the stock when prospects for U.S. regulatory reform arose. Not only do investors now appear to acknowledge the waning prospects for reform, but Canopy receives less uplift even on those positive days. It's difficult to see how a turnaround plays out." The Globe reported on Feb. 2 that Mr. Zamparo rated Canopy "underperformer," with a $2.50 share target. It was then worth $4.19.