Analysts Set Hexo Corp (TSE:HEXO) Price Target at C$9.59

Hexo Corp (TSE:HEXO) has received a consensus rating of “Buy” from the eight ratings firms that are covering the firm, reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is C$9.59.

HEXO has been the topic of several recent analyst reports. AltaCorp Capital reaffirmed an “outperform” rating on shares of HEXO in a report on Thursday, April 4th. Jefferies Financial Group increased their price objective on shares of Monster Beverage from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, May 3rd. CIBC downgraded shares of Hexo from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from C$9.50 to C$8.50 in a report on Monday, June 17th. Bank of America reaffirmed a “buy” rating and set a C$10.00 price objective on shares of Hexo in a report on Wednesday, April 17th. Finally, Desjardins set a C$14.00 price objective on shares of Hexo and gave the company a “buy” rating in a report on Friday, April 26th.

HEXO traded up C$0.08 during midday trading on Wednesday, hitting C$6.66. 955,992 shares of the company traded hands, compared to its average volume of 3,046,415. The company has a debt-to-equity ratio of 7.80, a current ratio of 5.62 and a quick ratio of 4.05. The stock has a market cap of $1.62 billion and a P/E ratio of -37.42. Hexo has a 52-week low of C$3.98 and a 52-week high of C$11.29. The stock’s 50 day moving average price is C$7.49.

Hexo Company Profile

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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Analyst Recommendations for Hexo (TSE:HEXO)

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