Canopy Growth Corp. is set to be a dominant global cannabis player, Canaccord Genuity says

Feb 13 04:02 2018 Print This Article

Emerging evidence that the international ambitions of Canopy Growth Corp. (TSX:WEED) are progressing faster than expected has Canaccord Genuity analyst Neil Maruoka raising his target price on the stock, though the analyst is still not recommending investors buy the stock at current levels.

Maruoka says ahead of the company’s third quarter results he has reassessed Canopy’s international opportunities and come to the conclusion that Canadian companies have an unprecedented chance to dominate on the world stage and that Canopy is particularly well-positioned to be “a dominant global player”.

“Never before have we witnessed burgeoning international markets with essentially no competition from US industry (given currently restrictive federal legislation),” Maruoka says. “As other countries seek to establish durable and stable cannabis infrastructure, we believe that Canadian companies are poised to take a leadership role through the export of both product and production know-how.”

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Cantech Letter

Founded in 2008 by Nick Waddell, Cantech Letter is an online magazine focusing on Canadian technology. The site has grown into one of the most popular and respected financial sites in Canada, and was described by Canadian Business Magazine as “one of Canada’s premier technology newsletters”. Waddell, who is Senior Editor, is routinely called on by the mainstream media for perspective on Canadian technology, and has been featured on BNN, CTV News Channel, and the CBC program “The Lang and O’Leary Exchange” in addition to mainstream print media such as The Guardian, The International Business Times, The Globe and Mail, Macleans, The Waterloo Record , Canadian Business, Slate, and Business Insider. You can email Nick at nick@cantechletter.com Cantech Letter is focused on those companies listed on the TSX and TSXV Technology, Cleantech and Life Sciences Sectors. Each year we present the Cantech Letter Awards, which honor Canada’s Top Technology Stock and Top Technology Stock Executive.

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