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Why Canopy Growth Stock Popped Today

TheMotleyFool

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Shares of Canopy Growth (NASDAQ: CGC) (TSX: WEED) climbed 6.5% on Tuesday, following bullish analyst commentary.

MKM Partners analyst Bill Kirk boosted his rating on Canopy Growth's stock from neutral to buy. He sees the cannabis company's Canada-listed shares climbing to $55 Canadian dollars ($45.58), or roughly triple their current price.

Canopy Growth's shareholders could enjoy hefty gains in the year ahead. Image source: Getty Images.

Source Fool.com

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