Canopy Growth Corp. is still undervalued, GMP Securities says

Mar 20 20:03 2018 Print This Article

A site visit to Canopy Growth Corp’s (TSX:WEED) B.C. Tweed facilities has GMP Securities analyst Martin Landry continuing to feel bullish about the stock.

Recently, Landry visited the company’s Aldergrove facility, which received its cultivation license on February 16, covering 10 of the 30 acres of its entirety, and the nearby Delta facility, which is comprised of 40 acres of greenhouse and is currently undergoing a conversion process. It is expected to get its license before the summer.

The analyst notes that combined, the two facilities are expected to generate more than 150 tonnes of product, and offers that despite being approximately two decades old the greenhouses appear to be in great shape.

In a research update to clients today, Landry maintained his “Buy” rating and one-year price target of $40.00 on Canopy Growth Corp. a price that implied a return of 18.8 per cent over Monday’s closing price of $33.68. Landry say the stock continues to trade at a discount.

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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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