Curiously, BofA was most positive about Canopy’s chances, resuming coverage of the stock with a buy rating and a prediction that the stock will hit $36 a share within a year — a 28.5% gain from its current stock price of about $28.
But BofA feels broadly positive about the rest of the marijuana industry as well, sparking a stock price rally across the sector.
In particular, the analyst highlights Tilray’s low cash balance as a concern, as well as its “lack of a major CPG investment partner,” notes TheFly.