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HEXO

Hexo

$2.83

-0.85 (-23.10%)

07:34
10/11/19
10/11
07:34
10/11/19
07:34

Oppenheimer says stay on sidelines despite selloff in Hexo shares

Oppenheimer analyst Rupesh Parikh tells investors to remain on the sidelines with respect to shares of Hexo after the company preannounced Q4 results meaningfully below expectations and withdrew its fiscal 2020 guidance for revenue of $400M. The analyst, who "very much expected" revenue shortfalls given recent adverse industry developments, says commentary on weak sell-through is an incremental risk that he did not envision "this early in the ramp." Parikh keeps a Perform rating on Hexo shares with a $2.75 price target.

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HEXO Hexo
$2.83

-0.85 (-23.10%)

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).
10/07/19
BOFA
10/07/19
DOWNGRADE
BOFA
Underperform
HEXO Corp downgraded to Underperform from Buy at BofA/Merrill
BofA/Merrill analyst Christopher Carey downgraded HEXO Corp to Underperform from Buy with a C$4 price target following the abrupt resignation of its "high-caliber" CFO,Michael Monahan, after only 4 months with the company. The analyst thinks the corporate finance organization was less developed than Monahan had realized, and likely indicates there is much work ahead.
10/11/19
JEFF
10/11/19
UPGRADE
JEFF
Hold
Hexo upgraded to Hold from Underperform at Jefferies
Jefferies analyst Ryan Tomkins upgraded Hexo to Hold from Underperform with a price target of C$3.80 following yesterday's selloff in shares.
10/11/19
ROTH
10/11/19
DOWNGRADE
ROTH
Neutral
Hexo downgraded to Neutral from Buy at Roth Capital
Roth Capital analyst Scott Fortune downgraded Hexo to Neutral from Buy with a price target of C$3.98.

TODAY'S FREE FLY STORIES

I

Intelsat

$26.09

1.09 (4.36%)

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FOMX

Foamix

$3.00

0.145 (5.09%)

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TWTR

Twitter

$40.26

0.5 (1.26%)

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MOH

Molina Healthcare

$117.37

4.885 (4.34%)

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FBM

Foundation Building Materials

$17.55

0.11 (0.63%)

06:01
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CBSH

Commerce Bancshares

$60.24

0.87 (1.47%)

06:00
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Earnings
Commerce Bancshares reports Q3 EPS 98c, consensus 92c »

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APDN

Applied DNA Sciences

$0.18

-0.0264 (-12.57%)

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  • 31

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GOOG

Alphabet

$1,243.53

25.3 (2.08%)

, GOOGL

Alphabet Class A

$1,242.51

24.9 (2.05%)

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Periodicals
Google staff fighting over decision to ban protest video game app, Vox reports »

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GOOG

Alphabet

$1,243.53

25.3 (2.08%)

GOOGL

Alphabet Class A

$1,242.51

24.9 (2.05%)

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JNJ

Johnson & Johnson

$132.84

2.17 (1.66%)

05:59
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MLND

Millendo Therapeutics

$7.12

0.04 (0.56%)

05:55
10/16/19
10/16
05:55
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05:55
Conference/Events
Millendo Therapeutics management to meet with SVB Leerink »

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  • 16

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UCBJF

UCB

$0.00

(0.00%)

05:52
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IFNNY

Infineon

$0.00

(0.00%)

05:51
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Infineon rating change  »

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C

Citi

$71.25

0.97 (1.38%)

, TATYY

Tate & Lyle

$0.00

(0.00%)

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C

Citi

$71.25

0.97 (1.38%)

TATYY

Tate & Lyle

$0.00

(0.00%)

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CBT

Cabot

$43.89

0.17 (0.39%)

05:48
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  • 05

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AYI

Acuity Brands

$124.81

2.81 (2.30%)

05:47
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Acuity Brands rating change  »

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NOW

ServiceNow

$274.60

5.45 (2.02%)

05:45
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ADBE

Adobe

$279.40

1.61 (0.58%)

05:44
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FMC

FMC Corporation

$83.06

0.6 (0.73%)

05:32
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  • 30

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SUBCY

Subsea 7

$0.00

(0.00%)

05:32
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Subsea 7 rating change  »

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  • 07

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RBS

RBS

$5.82

0.38 (6.99%)

05:28
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RBS rating change  »

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INOV

Inovalon

$15.04

0.2 (1.35%)

05:27
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Initiation
Inovalon initiated  »

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UTX

United Technologies

$136.17

0.26 (0.19%)

05:26
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Collins Aerospace, Lufthansa sign A380 main landing gear MRO agreement »

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  • 22

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HOLX

Hologic

$49.44

0.94 (1.94%)

05:25
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  • 06

    Nov

GLPG

Galapagos

$162.62

6.33 (4.05%)

05:24
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  • 25

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EPAY

Bottomline Technologies

$40.79

0.34 (0.84%)

05:21
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Hot Stocks
Bottomline Technologies, Currencycloud partnership selected by Hargenant Group »

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