Canopy Growth Is Poised to Fall by 35%, Says Analyst
Despite some pullbacks, marijuana stocks have been on fire lately due largely to the growing prospects of decriminalization at the federal level. But one analyst is bucking the bullish trend with a recommendation cut on one of the top names in the sector, Canopy Growth (NASDAQ: CGC).
On Wednesday, Jefferies prognosticator Owen Bennett downgraded his recommendation on the company to underperform (sell) from the previous hold, although he did lift his price target to $23.03 per share from the previous $21.10. That's around 35% below the current level.
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Source Fool.com