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10 Major Cannabis Sector Price Target Changes Investors Need To Know

Feb 5, 2021 • 6:59 AM EST
2 MIN READ  •  By Michael Berger
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From a merger and acquisition (M&A) standpoint, the cannabis sector recently seen a spike in activity, and this is a trend that we expect to become more significant over the next few years.

Last week, GW Pharmaceuticals plc (GWPH) reported to have entered into a definitive agreement with Jazz Pharmaceuticals (JAZZ) for more than $7 billion. To date, this is the largest acquisition in the history of the cannabis industry and the transaction caught the attention of leading broker-dealers that cover the sector.

This acquisition comes only a few months after Aphria (APHA.TO) (APHA) and Tilray Inc. (TLRY) announced a merger agreement, creating the largest Canadian and international cannabis business. This transaction served as significant catalyst for both operators and the recent trend has been to the upside.

We believe these transactions have served as a catalyst for the entire cannabis industry and will monitor how the trend continues from here. Due to the recent performance of the cannabis industry, several broker-dealers have changed ratings and price targets on leading operators. Today, we want to highlight changes in price targets and ratings that have been announced in February and believe that our readers need to be aware of this.

  1. February 5th: Berenberg raised its price target on Scotts Miracle Gro to $272 from $258
  2. February 4th: Piper Sandler downgraded Canopy Growth from Buy to Hold
  3. February 4th: Raymond James raised its price target on Scotts Miracle Gro to $290 from $274
  4. February 4th: Truist Securities raised its price target on Scotts Miracle Gro to $270 from $250
  5. February 4th: H.C. Wainwright downgraded GW Pharma from Buy to Hold and raised its price target to $220 from $162
  6. February 3rd: Citigroup downgraded GW Pharma from Buy to Hold and raised its price target to $220 from $192
  7. February 3rd: Morgan Stanley downgraded GW Pharma from Buy to Hold and raised its price target to $220 from $193
  8. February 3rd: Northland Capital Markets downgraded GW Pharma from Buy to Hold and raised its price target to $220 from $150
  9. February 3rd: JP Morgan raised its price target on Scotts Miracle Gro to $240 from $160
  10. February 3rd: SVB Leerink downgraded GW Pharma from Buy to Hold and raised its price target to $220 from $200
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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

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