CURLF - Why Canopy Growth Aurora Cannabis Cresco Labs and Curaleaf Stocks All Popped
2023-09-15 11:09:52 ET
It's finally Friday, and it's looking like marijuana stocks are going to end this week on another high note.
Thanks to a couple of optimistic price targets just released by Wall Street bankers, shares of cannabis kingpin Canopy Growth (NASDAQ: CGC) gained 10.8% through 10 a.m. ET this morning. The good news appears to be pulling up Canopy's peers as well, with Aurora Cannabis (NASDAQ: ACB) and Cresco Labs (OTC: CRLBF) both rising 7.5%, and Curaleaf (OTC: CURLF) bringing up the rear with a 4.6% gain.
As I suggested, Wall Street price target hikes seem to be the catalyst behind today's run. Yesterday evening after close of trading, investment banker TD Cowen more than doubled its price target on Canopy Growth stock, as StreetInsider.com just reported, predicting the shares could hit 1.80 Canadian dollars (about $1.33 U.S.) within a year. Separately, The Fly notes that U.S. megabank Bank of America has raised its price target a more conservative 18%, to CA$0.66 ($0.49).
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Why Canopy Growth, Aurora Cannabis, Cresco Labs, and Curaleaf Stocks All Popped