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CGC - Canopy Growth News Story

$17.93 1.3  7.8%

Last Trade - 10/08/20

Sector
Healthcare
Size
Large Cap
Market Cap £5.09bn
Enterprise Value £4.41bn
Revenue £228.5m
Position in Universe 974th / 6400

BUZZ-Canopy Growth: Drops after Cowen cuts PT, estimates

Tue 2nd June, 2020 5:03pm
** U.S.-listed shares of pot company  CGC.N   WEED.TO  fall
2.4% to $16.08 
    ** Cowen and Company analyst Vivien Azer cuts PT on stock to
C$27; forecasts FY 2021 revenues of C$496.4 mln and FY2022
revenues of C$665.2 mln 
    ** Says it will likely take most of FY 2021 for the
company's revenues to return to Q4 2020 levels
    ** The company's revenue for Q4 of FY2020 stood at $107.9;
the annual revenue in FY2020 stood at $398.8 mln 
    ** Cowen does not forecast WEED to reach run-rate EBITDA
positive within FY 2022
    ** However, broker says increased roll-out of cannabis 2.0
products, introduction of deep value offerings provide sources
of growth through 2020, irrespective of further retail door
expansion in Canada
    ** 3 of 11 brokerages rate the stock "buy" or higher, 6
"hold" and 2 "sell" or lower; their median PT is $23.33
    ** Up to Monday's close, stock is down 21.9% YTD 

 (Reporting by Devbrat Saha)
 ((Devbrat.Saha@thomsonreuters.com; +91 8061822770 (direct),
+1-646-223-8780 (extension 2770);))
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