Stock Rating Downgrade
Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for Canopy Growth Corp (NASDAQ: CGC) weakened during the last several trading days. CGC’s current Value Trend Rating is D and the prior Rating was C. Details supporting this lower rating are included in our next report.
Recent Price Action
On 5/1/24, Canopy Growth Corp (NASDAQ: CGC) stock suffered a major decline of -23.1%, closing at $11.44. Moreover, exceptionally high trading volume at 202% of normal accompanied the decline. The stock has risen 26.7% during the last week but has been weak relative to the market over the last nine months.
Current PriceTarget Research Rating
CGC’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to be a modest Value Builder.
Canopy Growth has a current Value Trend Rating of D (Negative). The Value Trend Rating reflects consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Canopy Growth has a slightly negative Appreciation Score of 34 and a neutral Power Rating of 51, and the Negative Value Trend Rating results.
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