Analyst: Canopy Growth Will Drop 38% to $27
Investors might be high on marijuana stocks these days, but a notable analyst isn't exactly bullish on one of the top names in the sector.
On Friday, Piper Sandler's Michael Lavery cut his recommendation on industry bellwether Canopy Growth (NASDAQ: CGC) from overweight to neutral. He is maintaining his price target of $27 per share, meaning that he believes the stock could fall by nearly 40% from its current level.
Image source: Getty Images.
Source Fool.com
