Menu
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why HEXO Stock Jumped Today

Shares of HEXO (NYSE: HEXO) (TSX: HEXO) were jumping 6% higher as of 3:34 p.m. EDT on Monday after rising as much as 8.2% earlier in the day. The nice gain came after BMO Capital analyst Tammy Chen


Shares of HEXO (NYSE: HEXO) (TSX: HEXO) were jumping 6% higher as of 3:34 p.m. EDT on Monday after rising as much as 8.2% earlier in the day. The nice gain came after BMO Capital analyst Tammy Chen upgraded the marijuana stock to "market perform" from "underperform." Chen also assigned a price target of $1.30 Canadian (US$0.95), roughly 34% above HEXO's closing price on Friday.

Is HEXO a better pick merely because one analyst is more bullish about the stock? No. However, it's smart for investors to understand the reasons behind analysts' optimism.

Image source: Getty Images.

Continue reading


Source Fool.com

Like: 0
Share

Comments

You may not comment on this article as you either did not confirm your account yet or were blocked. If you think this is a mistake please contact us. Show more