03:32 PM EST, 11/08/2024 (MT Newswires) -- Piper Sandler noted that Canopy Growth ( CGC ) reported Q2 2025 revenue and EBITDA below its estimates. But it also noted management now expects to achieve positive adjusted EBITDA in 'the coming quarters' vs. prior expectation of the second half of 2025 as the company is focused on higher margin, higher growth opportunities in international markets, like Germany and Poland. Even as Australia's cannabis market is suffering pricing compression from increased supply.

Piper Sandler said: "We do not see meaningful near-term catalysts, even with cannabis getting rescheduled from Schedule I to Schedule III." It lowered its FY 2025 sales estimate from near C$295M to near C$275M but maintained its FY 2026 sales forecast of near C$330M. It maintained its Price Target of US$2, but rolled forward to a calendar year 2026 base (still near 2x EV/Sales).

Price: 5.84, Change: -0.46, Percent Change: -7.30