This Analyst Cut Price Target On Canopy Growth After Q1 Earnings Release, Here's Why

On Friday, Canopy Growth Corporation (NASDAQ: CGC) reported a 19% year-over-year drop in net revenue to CA$110 million ($112.2 million) n the first quarter of fiscal 2023.

However, its international net revenue approximately doubled over the same period, driven primarily by strong sales in Israel and Australia. The Canadian giant is optimistic about the export outlook, given the 30% quarter-over-quarter shipment increase to the two countries.

Canopy’s management is confident that recent cost cuts will result in positive EBITDA by fiscal 2024, Cantor Fitzgerald’s analyst Pablo Zuanic said in his recent …

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This Analyst Cut Price Target On Canopy Growth After Q1 Earnings Release, Here's Why on Benzinga