Hexo (TSE:HEXO) had its price objective increased by investment analysts at CIBC from C$8.50 to C$9.50 in a research report issued to clients and investors on Friday. CIBC’s target price would indicate a potential upside of 17.28% from the company’s current price.
Other research analysts have also recently issued research reports about the stock. Oppenheimer assumed coverage on shares of Hexo in a report on Tuesday, February 19th. They issued an “outperform” rating and a C$7.00 price target for the company. BMO Capital Markets raised their price target on shares of Hexo from C$6.00 to C$9.00 in a report on Friday. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and issued a C$5.60 price target on shares of Hexo in a report on Monday, February 25th.
TSE HEXO opened at C$8.10 on Friday. The firm has a market capitalization of $1.68 billion and a price-to-earnings ratio of -38.21. Hexo has a 12-month low of C$3.34 and a 12-month high of C$9.29.
HEXO Corp., through its subsidiary, HEXO Operations Inc, produces, markets, and sells cannabis in Canada. The company offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line; and Decarb, an activated fine-milled cannabis powder product. It provides its products under the HEXO and Hydropothecary brand names.
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