Hexo price target lowered to C$1.80 from C$2.80 at Canaccord

Canaccord lowered the firm’s price target on Hexo to C$1.80 from C$2.80 and keeps a Hold rating on the shares. The analyst lowered his target following its earnings report where Q2 represented another quarter of sharp sequential revenue declines as the company elected to not chase sectorwide pricing headwinds as part of its increased focus on sustainable profitability.