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Fly News Breaks for January 28, 2020
CGC
Jan 28, 2020 | 06:03 EDT
BMO Capital analyst Tamy Chen upgraded Canopy Growth to Outperform from Market Perform with a price target of C$40, up from C$25. Following the stock's notable sell-off last year, driven by a suboptimal recreational product mix and industry-wide challenges, there is potential upside to Street expectations for fiscal Q3, driven by the company's pivot into a product mix that should now be better aligned with demand, Chen tells investors in a research note. Even a modest beat in Q3 "could begin to shift investor sentiment on the stock," the analyst adds.
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