19:55:58 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
CA



Canopy Growth Corp
Symbol WEED
Shares Issued 732,402,348
Close 2023-09-15 C$ 1.83
Market Cap C$ 1,340,296,297
Recent Sedar Documents

Globe says Canopy's BioSteel leads to target tweaks

2023-09-15 08:15 ET - In the News

The Globe and Mail reports in its Friday, Sept. 15, edition that at least a couple of analysts have tweaked their share targets on Canopy Growth following the weed company's announcement earlier in the week that it will end financing of its BioSteel unit. The Globe's Darcy Keith writes that despite efforts to rein in costs at BioSteel, it remained a drag on achieving profitability and Canopy is divesting it. The Globe says a charge against earnings of between $15-million to $20-million is expected in fiscal year 2024. BioSteel has filed for protection against its creditors. TD Cowen raised its share target $1.80 from 70 cents while Bank of America Global Research elevated its share target by nine cents to 65 cents. BofA analyst Lisa Lewandowski is sticking with her "underperform" recommendation for Canopy. The Globe reported on Feb. 2 and June 13 that CIBC analyst John Zamparo rated Canopy "underperformer." In the first item, Mr. Zamparo had a share target of $2.50. In the second item, he slashed his share target to 50 cents. It was then worth $4.19 and 97 cents. The Globe reported on July 6 that Eight Capital analyst Ty Collin had reaffirmed his "sell" rating for Canopy, which could then be had for 61 cents.

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