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.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on HEXO:
- Hexo reports Q2 total net revenue down 32% sequentially to C$24.1M
- Hexo wins complete dismissal of putative securities class action lawsuit
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue