Hexo (TSE:HEXO) Given New C$4.00 Price Target at CIBC

Hexo (TSE:HEXO) had its price objective lowered by equities researchers at CIBC from C$7.50 to C$4.00 in a research note issued on Monday, BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 15.94% from the company’s previous close.

Separately, Jefferies Financial Group upgraded shares of Hexo from an “underperform” rating to a “hold” rating and decreased their target price for the company from C$7.70 to C$3.80 in a research note on Friday, October 11th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Hexo has an average rating of “Buy” and an average price target of C$8.54.

Shares of HEXO stock traded down C$0.15 on Monday, hitting C$3.45. The stock had a trading volume of 3,569,581 shares, compared to its average volume of 2,732,033. The stock has a market capitalization of $874.72 million and a price-to-earnings ratio of -19.38. The business has a 50 day simple moving average of C$5.74. The company has a debt-to-equity ratio of 7.80, a current ratio of 5.62 and a quick ratio of 4.05. Hexo has a 52-week low of C$3.07 and a 52-week high of C$11.29.

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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