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CGC

Canopy Growth

$20.16 /

-0.405 (-1.97%)

, ACRGF

Acreage Holdings

$0.00 /

+ (+0.00%)

06:53
10/31/19
10/31
06:53
10/31/19
06:53

Cannabis sector investor sentiment is now 'very low,' says Ladenburg

After a long period of negative news flow and stock performance, sentiment in the cannabis sector is "very low," Ladenburg Thalmann analyst Glenn Mattson tells investors in a research note. After participating in a number of cannabis conferences, the analyst believes the biggest contributor to the negative backdrop has been the flat lining of growth in Canada. This is mainly a result of a poor retail footprint, only 25 stores in the nation's largest province, Ontario for instance, versus more than 300 in Alberta, according to Mattson. Adding to this negative backdrop are expectations that acquisitions done at much higher levels will lead to goodwill write-downs, adds the analyst. However, he points out that goodwill write-downs are not always viewed as a negative from a stock performance perspective. While the news flow continues to be negative, a resumption of better growth as reported by the Canadian government "holds some promise while we await Cannabis 2.0," says the analyst. 2.0 refers to the second wave of cannabis derivative products, such as edibles and beverages, that will begin to be available in Canada in December. Mattson lowered his price target for Canopy Growth (CGC) to $29 from $42, for Acreage Holdings (ACRGF) to $16 from $18, and for Aurora Cannabis (ACB) to $6 from $9. He keeps Buy ratings on all three stocks, however.

CGC

Canopy Growth

$20.16 /

-0.405 (-1.97%)

ACRGF

Acreage Holdings

$0.00 /

+ (+0.00%)

ACB

Aurora Cannabis

$3.61 /

+0.01 (+0.28%)

  • 12

    Nov

  • 13

    Nov

  • 19

    Nov

CGC Canopy Growth
$20.16 /

-0.405 (-1.97%)

10/22/19 Piper Sandler
Piper cuts targets in Cannabis, says Canopy and Cronos best positioned
10/16/19 BofA
BofA lowers cannabis stock price targets on further sales estimate changes
10/14/19
Fly Intel: Top five analyst downgrades
10/14/19 Seaport Global
Canopy, Hexo downgraded to Neutral as Seaport Global cuts cannabis estimates
ACRGF Acreage Holdings
$0.00 /

+ (+0.00%)

09/20/19 MKM Partners
MKM starts Acreage at Buy on 'extreme disconnect' from Canopy offer
09/19/19 MKM Partners
Acreage Holdings initiated with a Buy at MKM Partners
07/17/19 Ladenburg
Acreage Holdings initiated with a Buy at Ladenburg
06/10/19 Compass Point
Acreage Holdings initiated with a Buy at Compass Point
ACB Aurora Cannabis
$3.61 /

+0.01 (+0.28%)

10/14/19 MKM Partners
Aurora Cannabis price target lowered to CAD3.50 from CAD5 at MKM Partners

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General News
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Periodicals
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Earnings
Invitae withdraws FY20 revenue, test volume, cash burn guidance » 16:48
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Invitae

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RPT

RPT Realty

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CMCSK

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Conference/Events
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CWST

Casella Waste

$35.99 /

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Environmental Services…

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JNJ

Johnson & Johnson

$128.88 /

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Periodicals
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GM

General Motors

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Designer Brands

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Syndicate
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Nevro

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Alleghany

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On The Fly
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GM

General Motors

$19.26 /

-1.51 (-7.27%)

, FCAU

Fiat Chrysler

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, TM

Toyota

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, TMUS

T-Mobile

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Xerox

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, HPQ

HP Inc.

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, AMZN

Amazon.com

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, T

AT&T

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, XOM

Exxon Mobil

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, CVX

Chevron

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, OXY

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, KGC

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, AMRN

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, CPRI

Capri Holdings

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, WLL

Whiting Petroleum

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, IMMU

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Stocks began April and…

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AXGN

AxoGen

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-1.7 (-16.43%)

The impact of the…

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Conference/Events
Morgan Stanley lithium analysts to hold an analyst/industry conference call » 16:35
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LatAm Lithium Analyst…

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Hot Stocks
Northern Trust 2020 Annual Meeting of Stockholders to be held as virtual event » 16:33
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NTRS

Northern Trust

$73.11 /

-2.4 (-3.18%)

Northern Trust announced…

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Brookfield

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-2.6 (-5.88%)

Brookfield Asset…

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Hot Stocks
Leidos resumes work on new $450M contract by U.S. Air Force » 16:32
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LDOS

Leidos

$87.27 /

-4.465 (-4.87%)

Leidos announced it has…

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EQT Corporation changes annual meeting to virtual only format » 16:31
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EQT

EQT Corporation

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EQT Corporation announced…

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Hanover Insurance names Dennis Kerrigan new General Counsel » 16:30
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THG

Hanover Insurance

$88.10 /

-2.57 (-2.83%)

The Hanover Insurance…

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Conference/Events
Morgan Stanley economists/strategists to hold analyst/industry conference call » 16:30
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Options
Preliminary option volume of 23.5M today » 16:30
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Standex terminates proposed Torotel acquisition » 16:28
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SXI

Standex

$45.63 /

-2.64 (-5.47%)

Standex International…

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