Canopy Growth (WEED) Stock Forecast & Price Target

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C$9.74

-0.23 (-2.31%)

(As of 06/18/2024 ET)

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Canopy Growth - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Reduce
Based on 5 Analyst Ratings

Consensus Price Target

C$6.88
-29.41% Downside

High Forecast	C$11.00
Average Forecast	C$6.88
Low Forecast	C$1.80

Type	Current Forecast 6/20/23 to 6/19/24	1 Month Ago 5/21/23 to 5/20/24	3 Months Ago 3/22/23 to 3/21/24	1 Year Ago 6/20/22 to 6/20/23
Consensus Rating	Reduce	Reduce	Reduce	Reduce
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	0 Buy rating(s)	0 Buy rating(s)	0 Buy rating(s)	1 Buy rating(s)
Hold	3 Hold rating(s)	2 Hold rating(s)	2 Hold rating(s)	4 Hold rating(s)
Sell	2 Sell rating(s)	2 Sell rating(s)	2 Sell rating(s)	2 Sell rating(s)
Consensus Price Target	C$6.88	C$3.20	C$3.20	C$4.03
Forecasted Upside	-29.41% Downside	12.72% Upside	12.72% Upside	17.23% Upside

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WEED Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

WEED Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Canopy Growth Stock vs. The Competition

Type	Canopy Growth	Medical Companies
Consensus Rating Score	1.60	2.70
Consensus Rating	Reduce	Moderate Buy
News Sentiment Rating	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
6/18/2024	ATB Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Set Target	Sector Perform	C$10.00	+2.88%
6/11/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold	C$4.90 ➝ C$10.63	+6.94%
6/4/2024	Alliance Global Partners Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$6.00 ➝ C$11.00	+3.38%
5/31/2024	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Underperform	C$4.50 ➝ C$4.00	-65.46%
2/14/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$7.00 ➝ C$4.00	-15.43%
1/30/2024	Sanford C. Bernstein Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$1.49 ➝ C$6.70	+4.04%
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9/15/2023	TD Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$0.70 ➝ C$1.80	-1.10%
2/10/2023	Benchmark Subscribe to MarketBeat All Access for the recommendation accuracy rating		Set Target		C$2.00	-32.66%
2/10/2023	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$5.00 ➝ C$3.00	+1.01%
2/10/2023	Eight Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$2.75 ➝ C$1.75	-41.08%
2/10/2023	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$2.90 ➝ C$2.40	-19.19%
9/30/2022	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Equal Weight	C$2.75	-28.01%
7/19/2022	Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Hold	C$3.40	+1.49%
6/29/2022	Wedbush Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	NA	C$17.00 ➝ C$13.00	+186.98%
6/29/2022	MKM Partners Subscribe to MarketBeat All Access for the recommendation accuracy rating	William Kirk Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Buy	C$13.00	+180.17%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 06:11 AM ET.

WEED Forecast - Frequently Asked Questions

What is Canopy Growth's stock forecast and purchase recommendation?: According to the research reports of 5 Wall Street equities research analysts, the average twelve-month stock price forecast for Canopy Growth is C$6.88, with a high forecast of C$11.00 and a low forecast of C$1.80. The consensus rating for Canopy Growth stock is Reduce based on the current 2 sell ratings and 3 hold ratings for WEED. Learn more on WEED's analyst rating history.
Do Wall Street analysts like Canopy Growth more than its competitors?: Analysts like Canopy Growth less than other "medical" companies. The consensus rating for Canopy Growth is Reduce while the average consensus rating for "medical" companies is Moderate Buy. Learn more on how WEED compares to other companies.
Does Canopy Growth's stock price have much downside?: According to analysts, Canopy Growth's stock has a predicted downside of -7.81% based on their 12-month stock forecasts.

What analysts cover Canopy Growth?: Canopy Growth has been rated by research analysts at Alliance Global Partners, ATB Capital, CIBC, and Jefferies Financial Group in the past 90 days.