Canopy Growth Set To Become Cannabis Sector Leader, Says BofA

Although the Canadian cannabis market has evolved more slowly than expected, Canopy Growth Corp (NYSE: CGC) has the potential to become a long-term leader in this sector, according to BofA Securities.

The Canopy Growth Analyst

Bryan Spillane reinstated coverage of Canopy Growth with a Buy rating and CA$30 ($21.61) price target. 

The Canopy Growth Thesis

Canopy Growth’s recent developments, like management changes and “right-sizing” of operations, as well as its strong cash and market share position, make the company a good candidate to become a leader in the cannabis sector, Spillane said in a …

Full story available on Benzinga.com

More Canopy Growth Set To Become Cannabis Sector Leader, Says BofA