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Fly News Breaks for July 17, 2019
Jul 17, 2019 | 06:42 EDT
Ladenburg Thalmann analyst Glenn Mattson started Canopy Growth with a Buy rating and $50 price target. Within the cannabis space, the analyst favors Canadian companies who are focused on long-term value creation and gaining market share as well as those with a well-defined plan for potentially entering the U.S. market. He initiated coverage on the cannabis space with a "bullish long-term outlook." Despite slower than expected growth in the most recently reported quarter, Canopy Growth remains one of the best ways to play the cannabis space, Mattson tells investors in a research note. Given its "significant" balance sheet, Canopy has the greatest flexibility to go after new growth opportunities as they emerge, says the analyst.
News For CGC From the Last 2 Days
Aug 16, 2019 | 07:37 EDT
Benchmark analyst Mike Hickey noted that Canopy Growth reported "disappointing" Q1 sales and continued to struggle with profitability and he suspects investors are now favoring disciplined growth and a path to profitability as the global cannabis market has not been achieving the presumed near-term growth. He noted, though, that Canopy realized an "enormous" harvest in Q1, which leads Hickey to anticipate near-term performance trends will improve. The analyst, who also points to Canadian legalization of new cannabis product categories and the U.S. CBD market as upcoming catalysts, keeps a Buy rating on Canopy shares but lowered his price target on the stock to C$60 from C$100.
Aug 15, 2019 | 16:39 EDT
Stocks had a quiet trading day that ended with two of the three major averages closing slightly higher, but only after a volatile pre-market session that saw futures whipsawed by conflicting trade headlines. The futures dropped... To see the rest of the story go to See Story Here
Aug 15, 2019 | 12:08 EDT
Stocks are tentatively higher as the market is once again reacting mainly to trade-related headlines while generally looking past the large amount of U. S... To see the rest of the story go to See Story Here
Aug 15, 2019 | 09:06 EDT
UP AFTER EARNINGS: Walmart (WMT), up 7%... Alibaba (BABA), up 4%... J.C. Penney (JCP), up 14%... Canadian Solar (CSIQ), up 11%. ALSO HIGHER: Pivotal Software (PVTL), up 73% after confirming that it is in discussions with VMware (VMW) regarding a potential business combination through a transaction in which VMware would acquire all of the outstanding shares of Class A common stock of the company for cash at a per share price equal to $15.00. DOWN AFTER EARNINGS: Tapestry (TPR), down 8%... Canopy Growth (CGC), down 9%... Cisco (CSCO), down 5%. ALSO LOWER: VMware (VMW), down 3% after proceeding to negotiate definitive agreements with respect to a transaction to acquire all of the outstanding shares of Class A common stock of Pivotal... General Electric (GE), down 3.5% after Harry Markopolos, the accounting expert who raised red flags about Bernie Madoff's Ponzi scheme, released a report on the accounting of General Electric. Markopolos, on his website "," alleges GE has masked the depths of its problems, resulting in inaccurate and fraudulent financial filings with regulators, calling GE "a bigger fraud than Enron."