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.”

Read More

About Article Author

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.

Related Items

Looking forward to B.C. meeting climate targets for 2030, 2050

We are hopeful Premier John Horgan’s government will take decisive action to rein in the carbon pollution doing damage to the climate. ...

Constellation Software gets $1000 price target at Echelon Wealth

Record revenue growth and key acquisitions are cause for a revaluation of Constellation Software Inc. (TSX:CSU), says Ralph Garcea of Echelon Wealth Partners, who has upgraded his rating from “Hold” to “Buy” and raised CSU’s target price from $800.00 to $1,000.00. This week, diversified s ...

Why Lender-Of-Last-Resort Operations Are Inevitable

Lender-of-last-resort operations by central banks (or "bailouts of the financial system") are deservedly unpopular across the political spectrum. Malcontents have argued that risky lending ought to be handled by markets, and that deposits should be fully backed by reserves or Treasury bills. Unfort ...

Canopy Growth Corp. can make big money on international sales for 3-4 more years, GMP says

As the still unknown date for Canadian legalization draws nearer, GMP Securities analyst Martin Landry has turned part of his focus to Canopy Growth Corp’s (TSX:WEED) international prospects. On February 14, Canopy Growith Corp. reported its Q3, 2018 results. The company earned $11.01-million on ...

Market has you on edge? Sit tight with the ‘CATS’

(Flickr) The markets caught a bout of volatility in the last two weeks.  A sudden downdraft led to breathless headlines of impending doom followed by a bounce back. Overall, stocks have been on a long bull run since the U.S. market bottomed in 2009.  But the aging bull market comes with lofty v ...

How to find stocks that are financially solid

A strong balance sheet helps good stocks measure up. (Flickr) What are we looking for? Canadian stocks that show strong balance sheet characteristics The screen  If you were given the offer to buy out a company, you likely wouldn’t accept without first doing research – or at least hopefully ...

‘Flaw’ Discovered in Ohio’s Marijuana Licensing Process

An Ohio state auditor found that two state employees could have had the ability to manipulate applicant scores in Ohio’s competitive medical marijuana licensing process. Some of the fiercest competition for a piece of the marijuana market in the entire country has been in Ohio, and with good rea ...

Canopy Growth Corp. is the clear market leader but its stock is overpriced, says Beacon Securities

Canopy Growth Corp. CEO Bruce Linton. With pot-growing facilities lined up in every province and supply deals secured in four of them, Canopy Growth Corp. (TSX:WEED) stands as the clear leader in the run-up to recreational marijuana’s start date, says analyst Vahan Ajamian with Beacon Securities ...