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    Canopy growth stock price forecast models show Canopy Growth

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    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. The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Canopy Growth. However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term. Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is. Bloomberg cannabis market index movements strongly influenced Canopy Growth stock price this morning, reinforcing the equity’s beta exposure to sector benchmarks.

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