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CGC

Canopy Growth

$18.52

-0.69 (-3.59%)

06:39
11/14/19
11/14
06:39
11/14/19
06:39

Canopy Growth reports Q2 EPS (C$1.08) vs. (C$1.52) last year

Reports Q2 revenue C$76.6M vs. C$23.33M last year. The company sold 10,913 kilograms and kilogram equivalents of cannabis products during Q2, an increase of 3% from the previous quarter. Total gross revenue for Q2, before portfolio restructuring costs, was $118.3M. "The last two quarters have been challenging for the Canadian cannabis sector as provinces have reduced purchases to lower inventory levels, retail store openings have fallen short of expectations, and Cannabis 2.0 products are yet to come to market," said Mark Zekulin, CEO, Canopy Growth. "However, we believe these conditions are a short-term headwind in what is a brand-new industry, and Canopy continues to be best positioned with cash-on-hand, a world-class infrastructure, and a portfolio of intellectual property to deliver sustained, long-term market leadership."

  • 14

    Nov

  • 19

    Nov

CGC Canopy Growth
$18.52

-0.69 (-3.59%)

11/05/19
CANT
11/05/19
INITIATION
CANT
Neutral
Canopy Growth initiated with a Neutral at Cantor Fitzgerald
Cantor Fitzgerald analyst Pablo Zuanic initiated coverage of Canopy Growth with a Neutral rating and C$27 price target. s. Canopy has the lowest gross margin among the peer group and despite all its medical intellectual property, it "seems to have dropped the ball" in Canada medical, says the analyst.
11/05/19
BOFA
11/05/19
NO CHANGE
BOFA
BofA says Mexico cannabis legalization 'still in play' in 2020 after extension
BofA Merrill Lynch analyst Christopher Carey noted that Mexico's Supreme Court has granted an extension until April 30, 2020 for Congress to legalize all forms of cannabis, writing in its decision that considering the complexity of the issue it grants the extension "exceptionally and for one time only." He views this as an important development for the industry since, in addition to opening a potentially large market, it will put even more pressure on U.S. federal action as the country will potentially "place the US between 2 of only 3 countries in the world to have legalized cannabis for recreational use." 9% of Mexico's population of 131M is estimated to have consumed cannabis in 2018 and the legal market could be worth $1B by 2024, according to BDS Analytics, noted Carey. Publicly traded companies in the cannabis space include Aphria (APHA), Aurora Cannabis (ACB), CV Sciences (CVSI), CannTrust Holdings (CNTTF), Canopy Growth (CGC), Cronos Group (CRON), General Cannabis (CANN), India Globalization Capital (IGC), Tilray (TLRY) and Trulieve Cannabis (TCNNF).
11/05/19
11/05/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. HBT Financial (HBT) initiated with an Outperform at Raymond James as well as Keefe Bruyette and a Neutral at JPMorgan. 2. Canopy Growth (CGC) initiated with a Neutral at Cantor Fitzgerald. 3. uniQure (QURE) initiated with an Outperform at Credit Suisse. 4. SkyWest (SKYW) initiated with an Overweight at Stephens. 5. Anika Therapeutics (ANIK) initiated with a Sell at BWS Financial. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/11/19
MKMP
11/11/19
NO CHANGE
MKMP
Canopy Growth, Aurora Cannabis price targets lowered at MKM Partners
MKM Partners analyst Bill Kirk kept his Neutral rating on Canopy Growth (CGC) while lowering its price target to CAD30 from CAD33 and also kept his Sell rating with an unchanged CAD3.50 price target on Aurora Cannabis (ACB) ahead of their earnings reports this Thursday. The analyst says that neither company is expected to show much improvement on the top line, with inventory held at provinces weighing on shipments, pricing coming down, and the price premium relative to "illicit channels" widening. Kirk adds that the likely earnings disappointment may result in the bulls "revisiting the industry's path and pace toward profitability."

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FATE

Fate Therapeutics

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0.07 (0.52%)

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AMTD

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Charles Schwab

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AMTD

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SCHW

Charles Schwab

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RTMVY

Rightmove

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PLMR

Palomar

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  • 10

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ASAZY

Assa Abloy

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20:23
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Assa Abloy rating change at JPMorgan »

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RXEEY

Rexel

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(0.00%)

20:23
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TATYY

Tate & Lyle

$0.00

(0.00%)

20:22
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20:22
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AUO

AU Optronics

$0.00

(0.00%)

20:20
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LPL

LG Display

$6.22

0.115 (1.89%)

20:17
12/08/19
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LG Display rating change at Morgan Stanley »

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  • 09

    Dec

ETNB

89bio

$28.38

0.86 (3.13%)

20:16
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89bio initiated at Oppenheimer »

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ANIOY

Acerinox

$0.00

(0.00%)

20:15
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BPMC

Blueprint Medicines

$78.50

3.92 (5.26%)

20:15
12/08/19
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Conference/Events
Blueprint Medicines to hold an anlayst and investor event »

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  • 08

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TLSNY

Telia

$0.00

(0.00%)

20:14
12/08/19
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ARWR

Arrowhead

$67.25

1.705 (2.60%)

20:13
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ARGX

Argenx

$147.31

-2.56 (-1.71%)

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  • 16

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STC

Stewart

$43.16

0.28 (0.65%)

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FAF

First American

$63.05

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  • 13

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PFSI

PennyMac Financial

$33.91

0.12 (0.36%)

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AGIO

Agios Pharmaceuticals

$40.93

0.81 (2.02%)

18:40
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  • 09

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BPMC

Blueprint Medicines

$78.50

3.92 (5.26%)

18:34
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Recommendations
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  • 08

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