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CGC

Canopy Growth

$20.43

-2.365 (-10.38%)

08:20
10/11/19
10/11
08:20
10/11/19
08:20

Jefferies downgrades Canopy to Underperform, calls most expensive in cannabis

Jefferies analyst Owen Bennett downgraded Canopy Growth to Underperform from Hold with a price target of $18.80. The stock closed Thursday down $2.37 to $20.42. Despite the recent selloff in shares, Canopy is the most expensive name across the cannabis space, Bennett tells investors in a research note. The analyst, who believes the company still has "material potential" long-term, says signs of share pressures in Canada, weak margin and profit performance in the near term, a lack of material catalysts, and "question marks over how successful beverages will be" warrant a downgrade to Underperform.

CGC Canopy Growth
$20.43

-2.365 (-10.38%)

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.
10/11/19
JEFF
10/11/19
DOWNGRADE
JEFF
Underperform
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.

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AKAM

Akamai

$91.36

1.48 (1.65%)

11:51
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Akamai announces 'enhancements,' new features for Edge Platform »

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GD

General Dynamics

$179.33

0.16 (0.09%)

11:47
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General Dynamics' Gulfstream G500 earns European certification »

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Wolfe Research tech strategist to hold a webcast »

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QCOM

Qualcomm

$77.55

1.26 (1.65%)

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Microsoft

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1.92 (1.38%)

11:46
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Qualcomm developing chip preconfigured with the Azure Sphere for IoT »

Qualcomm (QCOM)…

QCOM

Qualcomm

$77.55

1.26 (1.65%)

MSFT

Microsoft

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BC

Brunswick

$54.42

0.715 (1.33%)

11:45
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Hot Stocks
Brunswick boosts quarterly dividend 14% »

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3-Month Bill Auction Total Amount data reported »

3-Month Bill Auction…

11:37
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6-Month Bill Auction Total Amount data reported »

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WFC

Wells Fargo

$49.76

0.46 (0.93%)

11:36
10/15/19
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11:36
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11:36
Earnings
Wells Fargo CFO sees FY20 NII down low to mid-single-digits »

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WMT

Walmart

$119.13

0.01 (0.01%)

11:36
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11:36
Hot Stocks
Walmart InHome Delivery launches in Kansas City, Pittsburgh and Vero Beach »

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ATVI

Activision Blizzard

$54.66

-0.34 (-0.62%)

, NTDOY

Nintendo

$0.00

(0.00%)

11:32
10/15/19
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11:32
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11:32
Hot Stocks
Blizzard cancels 'Overwatch' event at Nintendo store in NYC »

A previously announced…

ATVI

Activision Blizzard

$54.66

-0.34 (-0.62%)

NTDOY

Nintendo

$0.00

(0.00%)

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ENPH

Enphase Energy

$23.90

-0.85 (-3.43%)

11:25
10/15/19
10/15
11:25
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11:25
Options
Enphase Energy call volume above normal and directionally bullish »

Bullish option flow…

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11:25
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General news
Treasury announced a $95 B in 4- and 8-week bills for Thursday »

Treasury announced a $95…

11:25
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Conference/Events
Benchmark Internet analyst to hold an analyst/industry conference call »

Internet & Digital…

MIME

Mimecast

$39.48

0.53 (1.36%)

, SPLK

Splunk

$121.10

1.43 (1.20%)

11:25
10/15/19
10/15
11:25
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11:25
Conference/Events
FBN Securities network security/IT security to hold a luncheon meeting »

Analysts hold a group…

MIME

Mimecast

$39.48

0.53 (1.36%)

SPLK

Splunk

$121.10

1.43 (1.20%)

SAIL

SailPoint

$18.48

0.1 (0.54%)

CHKP

Check Point

$109.73

0.95 (0.87%)

PFPT

Proofpoint

$130.69

1.035 (0.80%)

ZS

Zscaler

$47.50

-0.04 (-0.08%)

FTNT

Fortinet

$79.42

0.17 (0.21%)

PANW

Palo Alto Networks

$213.94

0.29 (0.14%)

BOX

Box

$16.89

0.11 (0.66%)

FEYE

FireEye

$15.03

0.035 (0.23%)

CYBR

CyberArk

$105.00

1.87 (1.81%)

SYMC

Symantec

$23.62

0.195 (0.83%)

FSCT

ForeScout

$25.86

0.29 (1.13%)

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11:25
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10/15
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Conference/Events
Wolfe Research energy analysts to hold an analyst/industry luncheon »

Energy E&P Analyst…

PDFS

PDF Solutions

$13.14

0.145 (1.12%)

11:25
10/15/19
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11:25
Conference/Events
PDF Solutions to host analyst day »

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UBS leisure, gaming & lodging analyst to hold a luncheon »

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AMBA

Ambarella

$55.42

2.31 (4.35%)

11:23
10/15/19
10/15
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11:23
On The Fly
Ambarella rises after saying customers' blacklisting shouldn't hurt results »

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GS

Goldman Sachs

$202.74

-3.07 (-1.49%)

, WE

We Company

$0.00

(0.00%)

11:20
10/15/19
10/15
11:20
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11:20
Hot Stocks
Breaking Hot Stocks news story on Goldman Sachs, We Company »

Goldman Sachs says…

GS

Goldman Sachs

$202.74

-3.07 (-1.49%)

WE

We Company

$0.00

(0.00%)

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DXCM

DexCom

$150.26

-9.94 (-6.20%)

, TNDM

TNDM

11:20
10/15/19
10/15
11:20
10/15/19
11:20
Recommendations
DexCom, TNDM, Abbott analyst commentary  »

DexCom should be bought…

DXCM

DexCom

$150.26

-9.94 (-6.20%)

TNDM

TNDM

ABT

Abbott

$81.98

2.17 (2.72%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

11:17
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11:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

11:16
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NYSE market internals summary »

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YUM

Yum! Brands

$112.10

-0.73 (-0.65%)

11:16
10/15/19
10/15
11:16
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11:16
Periodicals
Taco Bell seasoned beef recalled over metal contamination concerns, CNN says »

About 2M pounds of…

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11:15
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11:15
General news
Breaking General news story  »

3-Month Bill Auction to…

11:15
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11:15
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Breaking General news story  »

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