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CGC

Canopy Growth

$20.43

-2.365 (-10.38%)

06:16
10/11/19
10/11
06:16
10/11/19
06:16

Canopy Growth downgraded to Underperform from Hold at Jefferies

Jefferies analyst Ryan Tomkins downgraded Canopy Growth to Underperform from Hold with a C$25 price target.

CGC Canopy Growth
$20.43

-2.365 (-10.38%)

10/01/19
PIPR
10/01/19
NO CHANGE
Target $40
PIPR
Overweight
Canopy Growth price target lowered to $40 from $49 at Piper Jaffray
Piper Jaffray analyst Michael Lavery lowered his price target for Canopy Growth to $40 from $49 to reflect near-term risks from a slower retail rollout in Ontario and risks to vapor sales from recent headlines. The analyst, however, keeps an Overweight rating on the shares despite a reduced sales outlook. He expects Canopy's new management to bring a more disciplined approach to spending and capital allocation that should help the company to continue to grow without needing new capital. Further, the company's capital position is a "key differentiator in the industry," says Lavery. He believes the company is well positioned with $2.3B in cash and equivalents.
10/07/19
BOFA
10/07/19
NO CHANGE
BOFA
Cannabis consensus estimates still may be 30% too high, says BofA/Merrill
BofA Merrill Lynch analyst Christopher Carey thinks that valuations across the cannabis sector are looking more reasonable following the selloff since April, though he still believes consensus estimates for the group are likely at least 30% too high. Given this view, he is of the opinion that the true "buy" signal for the sector won't come until sales estimates are significantly recalibrated. Though individual companies could gain share, on an industry level, sales estimates are too high, contends Carey, who thinks the stocks in the group could remain volatile for some time. He prefers Cronos Group (CRON), which he thinks stands out "as an especially attractive buying opportunity" following the group's pullback, Carey tells investors. He keeps a Buy rating on Cronos, has Neutral ratings on Aurora Cannabis (ACB) and Canopy Growth (CGC) and maintains an Underperform rating on HEXO Corp (HEXO).
10/09/19
ROTH
10/09/19
NO CHANGE
ROTH
Roth says low enthusiasm for cannabis stocks doesn't reflect industry potential
Roth Capital analyst Scott Fortune noted that stocks in the cannabis sector have declined during the six months since the first quarter with the industry "mired in a capital crunch, with a vape crisis to make matters worse." However, he thinks the recently lower enthusiasm for cannabis stocks does not reflect the cannabis industry's prospects, as he still sees a lot of upside potential. A "meaningful shift" in investor focus to operational execution has led to a short-term correction in valuations, but the industry is still projected to grow at a 27% compound annual growth rate for the next three years, said Fortune, who advises that investors focus for now on companies with strong balance sheets and positive adjusted EBITDA who are nearing break even. Publicly traded companies in the cannabis space include Aphria (APHA), Aurora Cannabis (ACB), CannTrust Holdings (CNTTF), Canopy Growth (CGC), Cronos Group (CRON), Tilray (TLRY), and Trulieve Cannabis (TCNNF).
10/10/19
STFL
10/10/19
NO CHANGE
STFL
Hexo miss further damages cannabis industry credibility, says Stifel
Hexo (HEXO) this morning provided a preliminary update for its fiscal Q4 with revenue coming in below the consensus estimate and well below the "double" offered by management mid-quarter during the Q3 earnings call, Stifel analyst Andrew Carter tells investors in a research note. The preannouncement is "another headline damaging" the cannabis industry's credibility, Carter tells investors in a research note. For companies facing "significant financing risk," the analyst believes a "real segregation of assets will occur." Some companies will face significant dilution due to onerous financing terms while others will simply be unable to access capital, predicts the analyst. Carter thinks the macro environment will continue to be difficult and that the capital positions of Canopy Growth (CGC) and Cronos Group (CRON) are "clear competitive advantages." Those two have the ability to continue executing their business plans while capitalizing on the sector weakness, which "will only intensify from here," says Carter. Other names in the cannabis space include Aphria (APHA), Aurora Cannabis (ACB), CV Sciences (CVSI), CannTrust Holdings (CNTTF), General Cannabis (CANN), India Globalization Capital (IGC), Tilray (TLRY) and Zynerba (ZYNE). Shares of Hexo are down 24%, or 90c, to $2.78 in early trading.

TODAY'S FREE FLY STORIES

TGT

Target

$111.05

-2.16 (-1.91%)

15:38
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Target to add nearly $50M in payroll for holiday season »

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BA

Boeing

$337.84

0.39 (0.12%)

15:37
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15:37
Periodicals
DOT says FAA must restore confidence in aircraft certification, Reuters says »

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    Oct

NSC

Norfolk Southern

$184.87

-3.98 (-2.11%)

, CSX

CSX

$72.19

-0.1 (-0.14%)

15:35
10/23/19
10/23
15:35
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15:35
Downgrade
Norfolk Southern, CSX, Kansas City Southern, Union Pacific, Canadian National rating change  »

BofA downgrades Norfolk…

NSC

Norfolk Southern

$184.87

-3.98 (-2.11%)

CSX

CSX

$72.19

-0.1 (-0.14%)

KSU

Kansas City Southern

$146.06

1.02 (0.70%)

UNP

Union Pacific

$169.56

-1.26 (-0.74%)

CNI

Canadian National

$89.06

-0.8 (-0.89%)

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LRCX

Lam Research

$231.75

-3.16 (-1.35%)

15:34
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10/23
15:34
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15:34
Options
Lam Research options imply 8.3% move in share price post-earnings »

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15:31
10/23/19
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Conference/Events
Morgan Stanley oil/gas E&P analysts to hold an analyst/industry conference call »

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POAI

Predictive Oncology

$0.41

-0.01 (-2.38%)

15:25
10/23/19
10/23
15:25
10/23/19
15:25
Conference/Events
Predictive Oncology to host special shareholder meeting »

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MU

Micron

$44.56

-0.12 (-0.27%)

15:23
10/23/19
10/23
15:23
10/23/19
15:23
Recommendations
Micron analyst commentary  »

Micron files annual…

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NSC

Norfolk Southern

$184.63

-4.22 (-2.23%)

15:22
10/23/19
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15:22
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15:22
Downgrade
Norfolk Southern rating change  »

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  • 23

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EBAY

eBay

$39.00

0.03 (0.08%)

15:19
10/23/19
10/23
15:19
10/23/19
15:19
Options
EBay options imply 8.7% move in share price post-earnings »

Pre-earnings options…

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GOGO

Gogo

$5.99

0.08 (1.35%)

15:18
10/23/19
10/23
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15:18
Hot Stocks
Gogo AVANCE platform exceeds 175,000 business aviation flights »

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  • 07

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FSV

FirstService

$96.64

-8.71 (-8.27%)

15:18
10/23/19
10/23
15:18
10/23/19
15:18
Earnings
FirstService reports Q3 adjusted EPS 92c, consensus $1.03 »

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  • 23

    Oct

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
10/23/19
10/23
15:17
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15:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
10/23/19
10/23
15:16
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15:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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FSV

FirstService

$96.64

-8.71 (-8.27%)

15:15
10/23/19
10/23
15:15
10/23/19
15:15
Earnings
Correction: FirstService reports Q3 adjusted EPS 92c, consensus $1.03 »

Earlier, FirstService…

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  • 23

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FSV

FirstService

$96.64

-8.71 (-8.27%)

15:13
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15:13
Recommendations
FirstService analyst commentary  »

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  • 23

    Oct

15:12
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Conference/Events
Morgan Stanley financial services analysts hold analyst/industry conference call »

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MSFT

Microsoft

$136.19

-0.2 (-0.15%)

15:07
10/23/19
10/23
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15:07
On The Fly
Fly Intel: What to watch in Microsoft earnings report »

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XOM

Exxon Mobil

$69.49

0.38 (0.55%)

15:06
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Hot Stocks
Qilak LNG executes heads of agreement with ExxonMobil for natural gas »

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  • 01

    Nov

XLNX

Xilinx

$93.83

-2.18 (-2.27%)

15:04
10/23/19
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15:04
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15:04
Options
Xilinx options imply 11.9% move in share price post-earnings »

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  • 23

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FTNW

FTE Networks

$1.15

0.28 (32.18%)

14:52
10/23/19
10/23
14:52
10/23/19
14:52
Hot Stocks
Breaking Hot Stocks news story on FTE Networks »

FTE Networks Inc trading…

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TSLA

Tesla

$254.68

-0.94 (-0.37%)

14:49
10/23/19
10/23
14:49
10/23/19
14:49
Options
Tesla options imply 11.9% move in share price post-earnings »

Pre-earnings options…

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  • 23

    Oct

KR

Kroger

$24.96

0.1 (0.40%)

14:45
10/23/19
10/23
14:45
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14:45
Options
Kroger call volume above normal and directionally bullish »

Bullish option flow…

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  • 05

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14:45
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14:45
General news
Treasury's $41 B 5-year auction was well supported »

Treasury's $41 B…

GSK

GlaxoSmithKline

$43.20

0.69 (1.62%)

, MYGN

Myriad Genetics

$32.14

-0.15 (-0.46%)

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Hot Stocks
FDA approves niraparib for HRD-positive advanced ovarian cancer »

On October 23, the Food…

GSK

GlaxoSmithKline

$43.20

0.69 (1.62%)

MYGN

Myriad Genetics

$32.14

-0.15 (-0.46%)

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  • 26

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TSLA

Tesla

$253.92

-1.7 (-0.67%)

14:27
10/23/19
10/23
14:27
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14:27
On The Fly
Fly Intel: What to watch in Tesla earnings report »

Tesla (TSLA) is scheduled…

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