Canopy Growth price target lowered to C$1.40 from C$1.70 at BofA

BofA lowered the firm’s price target on Canopy Growth (CGC) to C$1.40 from C$1.70 and keeps an Underperform rating on the shares. Ahead of Canopy reporting Q4 results in late May, the firm is refreshing its Canopy forecasts to account for the Polish government recently having enacted new legislation preventing medical cannabis patients from securing prescriptions online and lower consumer confidence levels that it thinks will likely negatively impact higher-ticket vaporizer sales, the analyst tells investors.