Stock Rating Upgrade
Reflecting improving fundamentals and high Appreciation Potential, the Value Trend Rating for Canopy Growth Corp (NASDAQ: CGC) improved in recent days. CGC’s current Value Trend Rating is B and the prior Rating was C. Details supporting this higher rating are included in our next report.
Recent Price Action
Canopy Growth Corp (NASDAQ: CGC) stock rose modestly by 0.8% on 5/24/24. The stock closed at $9.18. However, trading volume in this advance was exceptionally low at 35% of normal. The stock has performed in line with the market over the last nine months and has declined -16.5% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, CGC is expected to be a modest Value Builder.
Canopy Growth has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. Canopy Growth has a slightly positive Appreciation Score of 60 and a slightly positive Power Rating of 63, producing the Positive Value Trend Rating.
Be the first to comment