VACC - Canopy upgraded on economy reopening Xeris PT cut on acquisition news and more in analyst action

Canopy set for growth on Canadian economy re-openingWhile not expecting a significant Q4 2021 beat for Canopy Growth (CGC) on June 1, MKM expects a turnaround as the Canadian economy starts to re-open.As a result, the firm is upgrading shares from neutral to buy with a C$55 price target.That implies upside of ~27%."We believe fill rates are now consistently over 90%, leading to y/y share gains and re-captured sales," the firm notes.MKM adds that potential federal legalization of marijuana in the U.S. is no longer reflected in the price, and should approval happen, would lead to significant upside.Mizuho cuts Xeris price target following Stonebridge dealWhile maintaining a buy rating on Xeris Pharmaceuticals (XERS) shares, Mizuho analyst Difei Yang is lowering his price target from $14 to $9 after the company yesterday announced it was buying Stonebridge Biopharma (SBBP).He is "lukewarm" on the deal as he views it as dilutive to Xeris

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Canopy upgraded on economy reopening, Xeris PT cut on acquisition news, and more in analyst action