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Big Bank Sours on Canopy Growth Stock

TheMotleyFool

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Big Bank Sours on Canopy Growth StockPhoto, wide shot, wide-angle lens, Private equity firm, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/11edc0a6-edfc-46d1-baee-abd4f510abd1.png

A key investment bank tracking top marijuana stock Canopy Growth (NYSE: CGC) has lowered its recommendation on the company. Bank of America Merrill Lynch now has the company's shares at "neutral," a cut from the former "buy" designation.

More drastically, Bank of America severely reduced its price target on the stock. It currently believes Canopy Growth is fairly priced at $27 per share; its most recent previous price target was $46.

The stock most recently closed at $23.83.

Source Fool.com

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