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Why HEXO Stock Jumped 10.7% Today

TheMotleyFool

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Shares of HEXO (NYSE: HEXO) (TSX: HEXO) closed 10.7% higher on Friday. The Canadian cannabis stock received a nice boost from MKM Partners analyst Bill Kirk, who initiated a buy recommendation with a one-year price target reflecting a 129% premium over HEXO's closing price on Thursday.

It's usually best to take analysts' calls with a grain of salt. However, it's a good idea to understand why analysts express favorable (or unfavorable) opinions about a given stock.

Image source: Getty Images.

Source Fool.com

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