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CGC

Canopy Growth

$52.47

2.71 (5.45%)

, STZ

Constellation Brands

$216.31

-0.69 (-0.32%)

08:32
09/25/18
09/25
08:32
09/25/18
08:32

Canopy Growth initiated with a Buy at Benchmark

Benchmark analyst Mike Hickey initiated Canopy Growth (CGC) with a Buy rating and C$100 price target, citing Canopy's early leadership in the medical cannabis market and upcoming legalization of recreational cannabis in Canada and the meaningful investment from Constellation Brands (STZ). That investment accelerates the ongoing build-out of its international production and distribution operations and domestic retail infrastructure to meet rapidly growing global demand, Hickey tells investors.

CGC

Canopy Growth

$52.47

2.71 (5.45%)

STZ

Constellation Brands

$216.31

-0.69 (-0.32%)

STZ.B

Constellation Brands; also tag STZ

$220.00

(0.00%)

  • 04

    Oct

  • 04

    Oct

  • 13

    Oct

  • 28

    Oct

CGC Canopy Growth
$52.47

2.71 (5.45%)

09/20/18
STFL
09/20/18
NO CHANGE
STFL
Top 22 Canadian cannabis stocks up 127% since Constellation pact, says Stifel
Yesterday's significant outperformance for Canadian cannabis stocks, led by Tilray (TLRY), at one point pushed the total market capitalization for Canadian Licensed Producers above $C80B, before they closed with a combined market cap of C$73B, calculates Stifel analyst Christopher Growe. Since August 15, when Constellation Brands (STZ) announced a pact to invest C$5B into Canopy Growth (CGC), the top 22 Canadian cannabis stocks are up 127% in stock price, noted Growe. A $C73B market cap in relation to what he estimates to be an addressable Canadian market of C$10B is "difficult to fathom," so valuations require global opportunities to be realized, added Growe, who said he questions the pace of development and degree of advantage for these companies. Companies in the cannabis space that can be traded in the U.S. include Aurora Cannabis (ACBFF), CV Sciences (CVSI), Canopy Growth, Cronos Group (CRON) and Tilray.
09/19/18
09/19/18
NO CHANGE

Canopy Growth price target raised to C$95 from C$51 at Garnier
Bryan, Garnier & Co analyst Nikolaas Faes raised his fair value estimate for Canopy Growth (CGC)shares to C$95 from C$51 as he believes the company can use the capital injection it has received via its deal with Constellation Brands (STZ) to build its own bottling and canning line for cannabis based beverages, further fund medical research programs and facilities and expand in the 30 countries pursuing a federally permissible cannabis program. The analyst, who sees Canopy being in "pole position" in the race for global domination of the $250B cannabis market, keeps a Buy rating on the stock.
09/10/18
09/10/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. ANALYSTS SEE VALUE IN WYNN FOLLOWING PULLBACK: JPMorgan analyst Joseph Greff argued that there is a disconnect between Wynn Resorts' (WYNN) current operating fundamentals and investor sentiment, viewing the recent sector pullback as a buying opportunity. He kept an Overweight rating on Wynn Resorts with a $191 price target. Sharing a similar opinion, Carlo Santarelli at Deutsche Bank said that he would be a buyer of the stock given current valuation and as conditions in Macau remain stable in both the VIP and mass segments. He kept a Buy rating on Wynn Resorts with a $190 price target. AKAMAI UPGRADED TO BUY: DA Davidson analyst Mark Kelleher upgraded Akamai (AKAM) to Buy from Neutral and raised his price target to $93 from $80 after meeting with its management last week to discuss its Q2 results and the company direction going into 2019. The analyst notes that the discussions boosted his confidence in the company's strategic direction as it executes in a transition to a security vendor, saying the company supported by the "enhanced demand" for its security products over the last few quarters. Kelleher further cites the abating headwinds in the company's media segment, which returned to growth after struggling for the past few quarters. CITI DOWNGRADES ANTHEM, UNITEDHEALTH: Citi analyst Ralph Giacobbe downgraded Anthem (ANTM) and UnitedHealth (UNH) to Neutral with unchanged price targets of $290, and $288, respectively. The analyst is taking a more selective view of the managed care sector into year-end and 2019, citing "some reservations" about the commercial risk market. He sees more limited upside to estimates making it difficult to push valuations meaningfully higher "from already-premium levels." SUNTRUST CUTS CONSTELLATION BRANDS TO HOLD: SunTrust analyst William Chappell downgraded Constellation Brands (STZ) to Hold from Buy and lowered his price target to $220 from $260 while also lowering his FY19 EPS view to $9.35 from $9.59 and FY20 to $10.45 from $10.95. The analyst noted that the company's recent $4B investment in Canopy Growth (CGC) may "keep a cloud" over the stock for the next few quarters, as there is "little certainty" in the deal's revenue or profit potential. Chappell adds that the cannabis business generally has "limited near term catalysts", stating that the stock price may be range bound for an extended time as investors adjust to Constellation Brands' higher leverage ratio. BAIRD DESIGNATES TESLA A FRESH PICK: Baird analyst Ben Kallo designated Tesla (TSLA) as a Fresh Pick as he believes the company's strong fundamentals should drive the shares higher. He said the underlying ramp in Model 3 production will also help push the shares higher ahead of the Q3 deliveries and results. Kallo reiterated his Outperform rating and $411 price target on Tesla shares.
09/04/18
COWN
09/04/18
NO CHANGE
COWN
Outperform
Canopy Growth price target raised to C$74 from C$56 at Cowen
Cowen analyst Vivien Azer met with Canopy Growth (CGC) management and came away convinced on the company's ability to establish an early lead in the adult use cannabis market, as well as domestic and international medical cannabis markets. The company has signed a dominant share of supply agreements and has the capacity to meet both initial and medium-term demand. Canopy Growth's cash infusion from Constellation Brands (STZ) should provide an opportunity to gain an early share lead in international markets, added Azer, who reiterated her Outperform rating on Canopy Growth shares and raised her price target on the stock to C$74.
STZ Constellation Brands
$216.31

-0.69 (-0.32%)

09/14/18
GUGG
09/14/18
INITIATION
Target $177
GUGG
Sell
Constellation Brands initiated with a Sell, growth decelerating, says Guggenheim
Guggenheim analyst Laurent Grandet initiated Constellation Brands with a Sell and $177 price target citing a deceleration in growth and notes Corona Extra has declined in the US for the first time ever. Grandet struggles to find the next big growth driver, especially with cash being dedicated to the Canopy investment, and expects organic growth to moderated to 7% in FY19 and decelerating to less than 5% in FY21.
09/13/18
GUGG
09/13/18
INITIATION
GUGG
Sell
Constellation Brands initiated with a Sell at Guggenheim
STZ.B Constellation Brands; also tag STZ
$220.00

(0.00%)

08/30/18
STFL
08/30/18
NO CHANGE
STFL
Canopy Growth presentation thorough, but didn't include 'new news,' says Stifel
Stifel analyst Christopher Growe said Canopy Growth's (CGC) investor day presentation provided a thorough introduction to the company, but was "devoid of new news." The Constellation (STZ) partnership dramatically increased interest in the event and he came away impressed with the level of professionalism of the organization, Growe tells investors. Canopy's valuation has been pushed to 19X EV/Sales when considering FY20 consensus estimates and whether this accurately captures Canopy's advantaged position is "open for debate," added Growe.

TODAY'S FREE FLY STORIES

MPWR

Monolithic Power

$169.05

4.15 (2.52%)

06:01
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06:01
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HD

Home Depot

$211.96

-3.88 (-1.80%)

06:01
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06:01
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SPNE

SeaSpine

$12.00

-0.58 (-4.61%)

05:57
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05:57
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GMED

Globus Medical

$56.88

0.03 (0.05%)

05:56
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05:56
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Globus Medical rating change  »

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GKOS

Glaukos

$57.32

-1.895 (-3.20%)

05:56
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MMSI

Merit Medical

$29.99

0.69 (2.35%)

05:55
12/12/19
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05:55
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Merit Medical rating change  »

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SWAV

ShockWave Medical

$41.84

1.41 (3.49%)

05:55
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05:55
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DPZ

Domino's Pizza

$293.12

8.48 (2.98%)

, PZZA

Papa John's

$60.84

1.29 (2.17%)

05:55
12/12/19
12/12
05:55
12/12/19
05:55
Conference/Events
Stephens to hold a plane trip »

Restaurants Plane Trip…

DPZ

Domino's Pizza

$293.12

8.48 (2.98%)

PZZA

Papa John's

$60.84

1.29 (2.17%)

TXRH

Texas Roadhouse

$57.25

0.55 (0.97%)

03/08/13
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MPWR

Monolithic Power

$169.05

4.15 (2.52%)

05:47
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12/12
05:47
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05:47
Initiation
Monolithic Power initiated  »

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HUYA

Huya

$18.21

0.6 (3.41%)

05:35
12/12/19
12/12
05:35
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05:35
Initiation
Huya initiated  »

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GMAB

Genmab

, AZN

AstraZeneca

$48.19

0.23 (0.48%)

05:32
12/12/19
12/12
05:32
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05:32
Downgrade
Genmab, AstraZeneca, Roche rating change  »

Genmab downgraded to Hold…

GMAB

Genmab

AZN

AstraZeneca

$48.19

0.23 (0.48%)

RHHBY

Roche

$0.00

(0.00%)

03/08/13
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03/08/13
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    Dec

WBA

Walgreens Boots Alliance

$58.00

-0.4 (-0.68%)

, MCK

McKesson

$143.40

0.59 (0.41%)

05:31
12/12/19
12/12
05:31
12/12/19
05:31
Hot Stocks
Walgreens Boots Alliance, McKesson create German wholesale JV »

Walgreens Boots Alliance…

WBA

Walgreens Boots Alliance

$58.00

-0.4 (-0.68%)

MCK

McKesson

$143.40

0.59 (0.41%)

03/08/13
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  • 08

    Jan

MTUAY

MTU Aero Engines

$0.00

(0.00%)

05:30
12/12/19
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05:30
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MTU Aero Engines rating change  »

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RHHBY

Roche

$0.00

(0.00%)

, HALO

Halozyme

$18.74

-0.46 (-2.40%)

05:30
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05:30
Hot Stocks
Genentech says Phase III FeDeriCa study met primary endpoint »

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RHHBY

Roche

$0.00

(0.00%)

HALO

Halozyme

$18.74

-0.46 (-2.40%)

03/08/13
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OEZVY

Verbund

$0.00

(0.00%)

05:28
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ALV

Autoliv

$83.17

0.81 (0.98%)

05:25
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AMGN

Amgen

$233.96

0.14 (0.06%)

05:25
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Amgen, UCB announce EC approval of EVENITY »

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KR

Kroger

$28.03

0.14 (0.50%)

05:25
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BMWYY

BMW

$0.00

(0.00%)

05:23
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SCHW

Charles Schwab

$49.60

0.43 (0.87%)

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EVKIF

Evonik

$0.00

(0.00%)

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SOLVY

Solvay

$0.00

(0.00%)

05:22
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SOLVY

Solvay

$0.00

(0.00%)

05:21
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SBUX

Starbucks

$86.59

0.56 (0.65%)

05:19
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05:19
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SWI

SolarWinds

$18.28

0.1 (0.55%)

05:19
12/12/19
12/12
05:19
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05:19
Recommendations
SolarWinds analyst commentary  »

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