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CGC

Canopy Growth

$42.83

1.08 (2.59%)

09:02
04/18/19
04/18
09:02
04/18/19
09:02

Canopy acquisition of Acreage would be 'big positive,' says Jefferies

Canopy Growth, according to reports last night, is set to acquire the rights to acquire one of the largest U.S. multi-state operators, Acreage Holdings, Jefferies analyst Owen Bennett tells investors in a research note. While details of the locked in purchase price are still not known, with Canopy sitting on C$4B of cash and the U.S. being the world's biggest market, this move is a "big positive," says Bennett. If Canopy were to wait to acquire a U.S operator post its listing requirements permitting, the price paid would be "way ahead of whatever has been agreed right now," he points out. Bennett has a Hold rating on Canopy Growth with a C$64 price target. The stock in premarket trading is up 7%, or $2.91, to $45.76.

CGC Canopy Growth
$42.83

1.08 (2.59%)

04/08/19
COWN
04/08/19
NO CHANGE
COWN
Cowen moderates near-term expectations for cannabis group on supply constraints
After hosting investor meetings with the management of Tilray (TLRY), Cowen analyst Vivien Azer said that Canada clearly remains supply constrained and that Tilray, with its asset-light approach, is overexposed to this supply tightness. Independent of commentary from the meetings with Tilray, Azer lowered her revenue estimates throughout her Canadian cannabis coverage as her current read suggests that Q1 growth will likely be modest. Despite her moderation of her near-term expectations, Azer keeps Outperform ratings on Aurora Cannabis (ACB), Canopy Growth (CGC) and Tilray (TLRY) and maintains a Market Perform rating on Cronos (CRON).
04/12/19
PIPR
04/12/19
NO CHANGE
Target $60
PIPR
Overweight
Canopy Growth Q4 revenue estimate lowered at Piper Jaffray
Piper Jaffray analyst Michael Lavery trimmed his Q4 revenue estimates for Canopy Growth to reflect a more conservative build, based on early quarter Health Canada data. Based on April channel checks, product supply to retailers has recently improved, and stores are now maintaining some product inventory, Lavery tells investors in a research note However, Health Canada January industry data show industry momentum ramping up a bit more slowly than expected, adds the analyst. As such, Lavery lowered his Q4 revenue estimate for Canopy Growth to C$96.8M from C$117.6M. Capacity, scale and execution will continue to matter for the next 12-24 months, as growing supply catches up with strong demand in both Europe and Canada, says the analyst. He considers Canopy well positioned relative to its peers on these measures. Lavery keeps an Overweight rating on Canopy Growth shares with a $60 price target.
04/17/19
BOFA
04/17/19
INITIATION
Target $70
BOFA
Buy
Canopy Growth initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Christopher Carey initiated Canopy Growth (CGC) with a Buy and $70 price target saying it is positioned to be a long-term leader in the global cannabis sector. Carey said Canopy has scale with 6M square feet of cultivation capacity, capital following the Constellation (STZ) $4B investment, and vision as it lays groundwork to excel in areas higher on the value chain.
04/17/19
04/17/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Organogenesis (ORGO) initiated with an Outperform at Oppenheimer. 2. Teladoc (TDOC) initiated with an Overweight at Stephens. 3. Solar Capital (SLRC) initiated with an Outperform at Raymond James. 4. Principia Biopharma (PRNB) initiated with a Buy at Stifel. 5. Aurora Cannabis (ACB), HEXO Corp (HEXO), Canopy Growth (CGC), and Performance Food Group (PFGC) initiated with a Buy at BofA/Merrill while Cronos Group (CRON) was initiated with an Underperform at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

ATRC

AtriCure

$30.99

1.29 (4.34%)

04:55
12/07/19
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04:55
Conference/Events
AtriCure management to meet with JPMorgan »

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ACAD

Acadia

$51.37

0.915 (1.81%)

, AMGN

Amgen

$233.74

0.3 (0.13%)

04:55
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12/07
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04:55
Conference/Events
Clinical Trials on Alzheimer's Disease to hold conference »

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ACAD

Acadia

$51.37

0.915 (1.81%)

AMGN

Amgen

$233.74

0.3 (0.13%)

AZN

AstraZeneca

$47.68

0.06 (0.13%)

BIIB

Biogen

$300.27

0.98 (0.33%)

CLB

Core Laboratories

$46.19

1.94 (4.38%)

DNA

Bought by RHHBY

$0.00

(0.00%)

ESALY

Eisai

$0.00

(0.00%)

JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

LLY

Eli Lilly

$119.59

-0.175 (-0.15%)

MRK

Merck

$88.84

0.09 (0.10%)

NVS

Novartis

$92.08

0.42 (0.46%)

RHHBY

Roche

$0.00

(0.00%)

TAK

Takeda Pharmaceutical

$20.27

-0.16 (-0.78%)

VCNX

Vaccinex

$4.95

-0.05 (-1.00%)

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MGTA

Magenta Therapeutics

$13.29

0.3 (2.31%)

04:55
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12/07
04:55
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04:55
Conference/Events
Magenta Therapeutics to hold an investor and analyst event »

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04:55
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JPMorgan enterprise software analyst to hold an analyst/industry conference call »

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RUHN

Ruhnn

$6.19

-0.2 (-3.13%)

04:55
12/07/19
12/07
04:55
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04:55
Conference/Events
Ruhnn management to meet with Mizuho »

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FITB

Fifth Third

$30.24

0.365 (1.22%)

, CSCO

Cisco

$43.83

0.29 (0.67%)

18:37
12/06/19
12/06
18:37
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18:37
Hot Stocks
Fifth Third issues statement on temporary network outage »

Fifth Third Bank (FITB)…

FITB

Fifth Third

$30.24

0.365 (1.22%)

CSCO

Cisco

$43.83

0.29 (0.67%)

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  • 09

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    Feb

STML

Stemline

$10.33

0.5 (5.09%)

, PFE

Pfizer

$38.29

0.26 (0.68%)

18:33
12/06/19
12/06
18:33
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18:33
Hot Stocks
Stemline names Robert Francomano as Chief Commercial Officer »

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STML

Stemline

$10.33

0.5 (5.09%)

PFE

Pfizer

$38.29

0.26 (0.68%)

GSK

GlaxoSmithKline

$45.51

0.29 (0.64%)

03/08/13
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GOL

Gol Linhas

$17.39

1.07 (6.56%)

18:31
12/06/19
12/06
18:31
12/06/19
18:31
Hot Stocks
Gol Linhas announces preliminary traffic figures for November »

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NAVB

Navidea

$0.97

0.07 (7.78%)

18:25
12/06/19
12/06
18:25
12/06/19
18:25
Syndicate
Navidea announces $1.9M private placement »

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EFC

Ellington Financial

$18.22

0.09 (0.50%)

18:23
12/06/19
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18:23
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18:23
Hot Stocks
Ellington Financial reports estimated book value per share $18.51 on November 30 »

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BOOT

Boot Barn

$41.93

0.81 (1.97%)

18:22
12/06/19
12/06
18:22
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18:22
Hot Stocks
Boot Barn CEO: More than 80% of our business is in the store »

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ERIC

Ericsson

$9.24

0.1 (1.09%)

18:18
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Hot Stocks
Ericsson to pay over $1B to settle FCPA case »

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  • 09

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GLD

SPDR Gold Shares

$137.59

-1.42 (-1.02%)

17:55
12/06/19
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17:55
Hot Stocks
SPDR Gold Shares holdings fall to 886.23MT from 888.57MT »

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PICO

PICO Holdings

$10.81

0.31 (2.95%)

17:45
12/06/19
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Hot Stocks
PICO Holdings sells long-term storage credits for $8.7M in Arizona »

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QHC

Quorum Health

$0.95

0.0522 (5.81%)

17:31
12/06/19
12/06
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17:31
Hot Stocks
Quorum Health receives NYSE continued listing standard notice »

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SPRT

Support.com

$1.94

0.01 (0.52%)

17:30
12/06/19
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17:30
Hot Stocks
Breaking Hot Stocks news story on Support.com »

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BXRX

Baudax Bio

$6.69

0.34 (5.35%)

17:29
12/06/19
12/06
17:29
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17:29
Syndicate
Breaking Syndicate news story on Baudax Bio »

Baudax Bio files $125M…

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  • 16

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LMT

Lockheed Martin

$387.10

1.175 (0.30%)

17:25
12/06/19
12/06
17:25
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17:25
Hot Stocks
Lockheed Martin awarded $153.39M Navy contract modification »

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ENV

Envestnet

$71.72

1.27 (1.80%)

17:23
12/06/19
12/06
17:23
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17:23
Syndicate
Breaking Syndicate news story on Envestnet »

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NOC

Northrop Grumman

$344.79

0.4 (0.12%)

17:20
12/06/19
12/06
17:20
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17:20
Hot Stocks
Northrop Grumman awarded $189M Navy contract modification »

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SPRT

Support.com

$1.94

0.01 (0.52%)

17:03
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17:03
Hot Stocks
Support.com announces special distribution of $1.00 per share »

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SPRT

Support.com

$1.94

0.01 (0.52%)

17:01
12/06/19
12/06
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Hot Stocks
Breaking Hot Stocks news story on Support.com »

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RZLT

Rezolute

$0.00

(0.00%)

17:00
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17:00
Syndicate
Breaking Syndicate news story on Rezolute »

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AMZN

Amazon.com

$1,750.79

10.2 (0.59%)

16:58
12/06/19
12/06
16:58
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16:58
Periodicals
U.S. mulls putting Amazon foreign sites on 'Notorious Markets' list, WSJ says »

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MGTA

Magenta Therapeutics

$13.29

0.3 (2.31%)

16:55
12/06/19
12/06
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16:55
Conference/Events
Magenta Therapeutics to hold an investor and analyst event »

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