Canopy Growth (CGC) Stock Forecast & Price Target

$7.30

+0.14 (+1.96%)

(As of 07/26/2024 ET)

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 4 Analyst Ratings

Based on 4 Wall Street analysts who have issued ratings for Canopy Growth in the last 12 months, the stock has a consensus rating of "Reduce." Out of the 4 analysts, 2 have given a sell rating, and 2 have given a hold rating for CGC.

Consensus Price Target

$4.53
-37.90% Downside

High Forecast	$6.60
Average Forecast	$4.53
Low Forecast	$2.00

According to the 4 analysts' twelve-month price targets for Canopy Growth, the average price target is $4.53. The highest price target for CGC is $6.60, while the lowest price target for CGC is $2.00. The average price target represents a forecasted downside of -37.90% from the current price of $7.30.

Type	Current Forecast 7/28/23 to 7/27/24	1 Month Ago 6/28/23 to 6/27/24	3 Months Ago 4/29/23 to 4/28/24	1 Year Ago 7/28/22 to 7/28/23
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	2 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	$4.53	$4.87	$4.87	$19.25
Forecasted Upside	-37.90% Downside	-34.17% Downside	-34.17% Downside	-28.54% Downside

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CGC 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.

CGC 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	S&P 500
Consensus Rating Score	1.50	2.72	2.50
Consensus Rating	Reduce	Moderate Buy	Moderate Buy
Predicted Upside	-37.21% Downside	2,848.63% Upside	9.14% Upside
News Sentiment Rating	Positive News	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
7/9/2024	Piper Sandler 2 of 5 stars		Lower Target	Underweight ➝ Underweight	$3.00 ➝ $2.00	-68.05%
6/17/2024	Atb Cap Markets 5 of 5 stars	F. Gomes Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold
1/31/2024	Sanford C. Bernstein 3 of 5 stars		Boost Target	Market Perform	$5.00	+3.31%
9/15/2023	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Underperform ➝ Underperform	$5.60 ➝ $6.60	-51.18%
5/1/2023	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Underperform ➝ Market Perform
2/17/2023	Cantor Fitzgerald Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral	$33.00 ➝ $32.00	+27.49%
2/13/2023	Roth Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	W. Kirk Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Buy
2/10/2023	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$25.00 ➝ C$17.50
2/9/2023	Alliance Global Partners Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$45.00 ➝ C$35.00
11/7/2022	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Matt Bottomley Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Hold ➝ Hold	C$42.50 ➝ C$50.00
9/30/2022	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Underweight	$35.00 ➝ $20.00	-28.06%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 01:29 AM ET.

CGC Forecast - Frequently Asked Questions

What is Canopy Growth's forecast for 2024?: According to the research reports of 4 Wall Street equities research analysts, the average twelve-month stock price forecast for Canopy Growth is $4.53, with a high forecast of $6.60 and a low forecast of $2.00.
Should I buy or sell Canopy Growth stock right now?: 4 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Canopy Growth in the last year. There are currently 2 sell ratings and 2 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "reduce" CGC shares.
Does Canopy Growth's stock price have much downside?: According to analysts, Canopy Growth's stock has a predicted downside of -44.76% based on their 12-month stock forecasts.
Has Canopy Growth been upgraded by Wall Street analysts recently?: Over the previous 90 days, Canopy Growth's stock had 1 upgrade by analysts.
What analysts cover Canopy Growth?: Canopy Growth has been rated by research analysts at Atb Cap Markets, and Piper Sandler in the past 90 days.
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 CGC compares to other companies.