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CGC

Canopy Growth

$42.83

1.08 (2.59%)

, ACRGF

Acreage Holdings

$0.00

(0.00%)

09:24
04/18/19
04/18
09:24
04/18/19
09:24

Canopy Growth, Acreage Holdings deal includes $150M termination fee

As previously reported, Canopy Growth (CGC) announced a definitive arrangement agreement that grants Canopy Growth the right to acquire 100% of the shares of and Acreage Holdings (ACRGF), with a requirement to do so at such time as cannabis production and sale becomes federally legal in the United States. The transaction is subject to, among other things, approval from the CSE, the Toronto Stock Exchange and the New York Stock Exchange, the Supreme Court of British Columbia and certain other regulatory approvals and closing conditions. The agreement contains representations, warranties and covenants, including a termination fee in the amount of $150M payable by Acreage in the event that the transaction is terminated in certain circumstances. The agreement also includes certain non-solicitation covenants subject to the right of Acreage to accept a superior proposal in certain circumstances, with Canopy Growth having a five-business day right to match any such superior proposal received by Acreage.

CGC

Canopy Growth

$42.83

1.08 (2.59%)

ACRGF

Acreage Holdings

$0.00

(0.00%)

  • 07

    May

CGC Canopy Growth
$42.83

1.08 (2.59%)

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.
04/18/19
JEFF
04/18/19
NO CHANGE
JEFF
Hold
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.
ACRGF Acreage Holdings
$0.00

(0.00%)

02/21/19
GHSC
02/21/19
INITIATION
Target $42
GHSC
Buy
Acreage Holdings initiated with a Buy at Seaport Global
Seaport Global analyst Brett Hundley initiated Acreage Holdings with a Buy rating and $42 price target, citing its market positioning as a U.S. multi-state operator, its dual strategy of wholesale and retail production, the strategic nature of its Form Factory acquisition and its "influential board of directors."

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BILL

Bill.com

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FTSV

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1.4 (4.05%)

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NCR

NCR Corp.

$32.60

0.16 (0.49%)

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    Dec

CIEN

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$35.45

0.75 (2.16%)

, LOVE

Lovesac

$14.49

0.05 (0.35%)

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CHEF

Chefs' Warehouse

$35.51

-0.06 (-0.17%)

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  • 12

    Dec

HSBC

HSBC

$37.15

0.44 (1.20%)

20:13
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HSBC rating change at BofA/Merrill »

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PLCE

Children's Place

$54.36

-16.31 (-23.08%)

19:54
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Downgrade
Children's Place rating change at Wedbush »

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  • 11

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LVGO

Livongo Health

$27.55

1.48 (5.68%)

19:43
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  • 12

    Dec

CVX

Chevron

$116.22

-1.68 (-1.42%)

19:42
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Chevron said to be close to approving Gulf of Mexico project, Bloomberg says »

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RH

RH

$233.00

0.03 (0.01%)

19:27
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RH CEO sold 500,000 common shares of company from Dec 9 through Dec 11 »

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CRWD

Crowdstrike

$47.74

0.18 (0.38%)

19:17
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  • 12

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GLD

SPDR Gold Shares

$138.94

0.98 (0.71%)

19:00
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DIS

Disney

$147.70

1.58 (1.08%)

, GOOG

Alphabet

$1,345.14

0.64 (0.05%)

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DIS

Disney

$147.70

1.58 (1.08%)

GOOG

Alphabet

$1,345.14

0.64 (0.05%)

GOOGL

Alphabet Class A

$1,344.65

1.61 (0.12%)

AAPL

Apple

$270.71

2.09 (0.78%)

T

AT&T

$38.17

0.1 (0.26%)

NFLX

Netflix

$299.25

6.04 (2.06%)

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DLHC

DLH Holdings

$4.58

0.525 (12.96%)

, FORM

FormFactor

$23.77

0.57 (2.46%)

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FORM

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LULU

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NX

Quanex

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TLRD

Tailored Brands

$4.85

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NDSN

Nordson

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MESA

Mesa Air

$9.25

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OXM

Oxford Industries

$74.07

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AKTS

Akoustis

$7.60

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TTD

Trade Desk

$250.44

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RACE

Ferrari

$165.20

0.37 (0.22%)

18:45
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RIBT

RiceBran

$2.09

-0.105 (-4.79%)

18:43
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RiceBran offers to sell common stock, no amount given »

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VMW

VMware

$151.00

2.27 (1.53%)

, TSLA

Tesla

$352.40

3.58 (1.03%)

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VMW

VMware

$151.00

2.27 (1.53%)

TSLA

Tesla

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DELL

Dell Technologies

$47.73

0.37 (0.78%)

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  • 11

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SMTC

Semtech

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  • 07

    Jan

CS

Credit Suisse

$12.95

-0.115 (-0.88%)

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  • 11

    Dec

PANW

Palo Alto Networks

$226.76

1.71 (0.76%)

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  • 08

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PBYI

Puma Biotechnology

$8.71

0.24 (2.83%)

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GTHX

G1 Therapeutics

$23.06

-0.18 (-0.77%)

18:05
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G1 Therapeutics presents data from Phase 1b/2a trial of lerociclib at SABCS »

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NH

NantHealth

$0.86

-0.0225 (-2.54%)

18:01
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TWTR

Twitter

$30.56

0.71 (2.38%)

, AAPL

Apple

$270.71

2.09 (0.78%)

17:51
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TWTR

Twitter

$30.56

0.71 (2.38%)

AAPL

Apple

$270.71

2.09 (0.78%)

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  • 06

    Feb

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