#1 - Canopy Growth (NASDAQ:CGC)
Canopy Growth (NYSE: CGC) - One of the key reasons to own Canopy Growth is that Constellation Brands owns 38% of the company, and they have aggressive plans for CGC. Although the company has sales that are just below $100 million, Constellation says that it has plans for the company to achieve $1 billion in sales in the next 18 months. Some might hear a forecast like that and think that Constellation might be sampling some of Canopy’s product, but the fundamentals support the aggressive forecast. Canopy Growth is the largest marijuana company in Canada which, between medicinal and recreational marijuana use will total nearly $5 billion dollars. The company already has 30% of the medicinal marijuana market, and it’s not hard to imagine that Canopy can also grab a high percentage of the recreational market which would put the company well on its way to reaching that $1 billion level. And all of this does not count the additional revenue the country may generate from growing sales in Germany and, potentially, the United States.
About Canopy Growth
Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.
Read More - Current Price
- $2.83
- Consensus Rating
- Sell
- Ratings Breakdown
- 0 Buy Ratings, 1 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $3.50 (23.7% Upside)
