Company News

BUZZ-Canopy Growth: Shares up as brokerages raise PT

** U.S.-listed shares of Canadian marijuana company up 6.5 pct at $29.40 after PT raise by Canaccord Genuity and Cormark Securities

** Canadian shares up 6.2 pct at C$39.21

** Canaccord ups PT by C$4.5 to C$32; says Canopy positioned to be dominant player in Canadian cannabis and also has attractive opportunity in European markets

** Cormark raises PT to C$33 from C$25 and says co is one of the best positioned limited partnerships for the opening of the recreational market

** Brokerages say an absence of expected profitability in quarterly results is due to investments ahead of the start of the adult-use market

** 6 of 10 brokerages rate both Canadian and U.S-listed stock “buy” or higher, 3 “hold” and 1 “sell”; their median PT is C$40

** So far this year, WEED has risen 32 pct; CGC has risen ~5 pct since debut on May 24 (Reporting by Anirban Paul)