Canopy Growth Price Target Cut to $49.00Canopy Growth had its price objective trimmed by Piper Jaffray Companies from $54.00 to $49.00. The brokerage currently has an overweight rating on the marijuana producer’s stock.
That's bad news, share prices almost always go down on price target cuts.
I think the share price is going to drift down to the $25 range during the next few weeks.