Piper Jaffray analyst Michael Lavery lowered his price target for Canopy Growth to $49 from $54 citing his updated enterprise value and sales estimates. Derivative product sales, like vapes, edibles, are expected to begin in January, but Canopy could possibly record sales in December if it ships products to retailers ahead of the holidays, Lavery tells investors in a research note. He expects these to allow the legal market to compete more effectively with illicit trade and views the rollout as a catalyst for Canopy Growth. The analyst maintains an Overweight rating on the shares. Lavery expects the company's cash flows to improve over the next two years.