Analysts note Canopy Growth stock price resilience despite broader market pullbacks. The company’s strategic move to cut operational costs by 18% could help bolster margins in the coming quarters. The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued. For example, in Canopy Growth’s case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment. Forecast models show Canopy Growth stock price could test CAD 5.20 by Q3 if Canadian retail cannabis sales sustain recent month-over-month growth trends.
