EYE ON EQUITIES STOCKS THAT SHOULD BE ON YOUR RADAR SCREEN
Canaccord Genuity analyst Neil Maruoka downgraded his rating for Canopy Growth Corp. to “sell” from “hold” based on recent share price appreciation. “We continue to believe that Canopy will ultimately emerge as one of the dominant players in the Canadian cannabis space,” he said. “However, our hesitation on the stock has largely stemmed from valuation.”
Target: His target rose to $11 from $9.50. The consensus is $11.86. Predicting its investments in direct-to-consumer video service and long lead times will likely weigh on investor sentiment in the near term, Guggenheim analyst Michael Morris lowered Walt
Disney Co. to “neutral” from “buy.” “Our updated outlook reflects our increased caution toward pay-TV ecosystem trends,” he said.
Target: Mr. Morris’s target fell to $102 (U.S.) from $122. Consensus is $112.67. Echelon Wealth Partners analyst Douglas Loe gave “Top Pick” status to Immunovaccine Inc., a Halifax-based clinical-stage biopharmaceutical company. “IMV performs well year to date, in part from overall sector attractiveness, but substantively from its own [DepoVax ] pipeline advances as well,” he said.
Target: Mr. Loe has a “speculative buy” rating and $2.75 target for the stock. Consensus is $2.36. Expressing concern over the effects of rising costs of doing business in the U.S. home-furnishing retail space, Credit Suisse analyst Seth Sigman downgraded
Williams-Sonoma Inc. to “underperform” from “neutral.” Mr. Sigman said the need for elevated investment makes it difficult to balance sales and margins, which he said the company has shown over the past two years.
Target: He kept a target of $44 (U.S.). Consensus is $50.16. In a research note on North American transportation companies, Credit Suisse analyst Allison Landry said capacity across all modes “is tight.” Accordingly, Ms. Landry lowered her 2018 financial estimates for Canadian
National Railway Co. despite remaining bullish on the railway industry in general.
Target: With an unchanged “neutral” rating, her target for CN stock fell to $83 (U.S.) from $85. Consensus is $84.91.