Analysts are hyping up marijuana stocks ahead of this week's Congressional vote on The Marijuana Opportunity Reinvestment and Expungement (MORE) Act of 2019.
Set for a vote by Congress between December 2-4, 2020, the MORE Act — sponsored by Vice President-elect Kamala Harris — decriminalizes marijuana at the federal level and allows the states to set their cannabis regulation policies.
The Analyst: Bank of America analysts Bryan Spillane and Lisa Lewandowski released an analyst note Monday focusing on Canopy Growth (NASDAQ: CGC).
They raised the price target on Canopy stock from CA$30 ($27.06) to CA$42 ($32.37) based upon ~19x CY21e EV/sales, and maintained ‘Buy’ rating on it.
They explained that potential changes to the US federal law on cannabis bode well for the overall cannabis sector, …