Stock Rating Upgrade
The Value Trend Rating for Canopy Growth Corp (NASDAQ: CGC) improved during the last several trading days from D to C reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
Canopy Growth Corp (NASDAQ: CGC) stock closed at $10.13 on 4/8/24 after a slight decline of -0.5%. Moreover, unusually high trading volume at 158% of normal accompanied the decline. The stock has risen 17.4% during the last week but has been weak relative to the market over the last nine months.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, CGC is expected to be a modest Value Builder.
Canopy Growth has a current Value Trend Rating of C (Low Neutral). This VT Rating improved in recent days from D previously. This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Canopy Growth has a neutral Appreciation Score of 54 and a slightly negative Power Rating of 35, resulting in the Low Neutral Value Trend Rating.
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