10 Major Cannabis Sector Price Target Changes Investors Need To Know

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

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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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