MKM Partners analyst Bill Kirk last night initiated coverage of Canopy Growth (CGC) with a Neutral rating and C$33 price target. The analyst says that unlike market expectations, he does not expect Canopy to become profitable by the end of fiscal 2022. The company's current spending is the beginning of what is needed to capture future profitable opportunities, Kirk tells investors in a research note. Further, he believes Canopy's existing cultivation businesses will continue to be under pressure as more supply comes online. However, the stake by Constellation Brands (STZ) serves as a valuation backstop and Canopy Growth's efficiency could improve as the former exerts more control, says Kirk.

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSMetropolitan... To see the rest of the story go to thefly.com. See Story Here

In this edition of "Rising High," The Fly conducted an exclusive interview with Brendan Mitchel-Chesebro, industry analyst at BDSA, a Colorado-based cannabis market research and data analytics firm. Here are some... To see the rest of the story go to thefly.com. See Story Here