Canaccord Genuity Increased Canopy Growth’s Target Price
On July 10, Canopy Growth (WEED) (CGC) entered into an agreement to acquire Hiku Brands. Following the news, Canaccord Genuity raised Canopy Growth’s target price to $34 from the previous target of $32. Canaccord Genuity thinks that the Hiku Brands acquisition will help Canopy Growth enhance its retail presence in western Canada.