Zacks: Analysts Set $8.50 Target Price for HEXO Corp. (HEXO)

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Shares of HEXO Corp. (NASDAQ:HEXO) have received a consensus broker rating score of 1.17 (Strong Buy) from the six brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy rating and five have given a strong buy rating to the company.

Brokerages have set a 12-month consensus price target of $8.50 for the company and are expecting that the company will post ($0.04) earnings per share for the current quarter, according to Zacks. Zacks has also assigned HEXO an industry rank of 60 out of 255 based on the ratings given to its competitors.

Several analysts recently issued reports on the company. Seaport Global Securities assumed coverage on HEXO in a report on Thursday, February 21st. They set a “buy” rating and a $12.00 target price on the stock. Oppenheimer assumed coverage on HEXO in a report on Tuesday, February 19th. They set an “outperform” rating and a $7.00 target price on the stock. Jefferies Financial Group assumed coverage on HEXO in a report on Monday, February 25th. They set an “underperform” rating on the stock. CIBC assumed coverage on HEXO in a report on Tuesday, February 19th. They set an “outperform” rating and a $7.00 target price on the stock. Finally, Beacon Securities reiterated a “buy” rating on shares of HEXO in a report on Tuesday, February 19th.

Shares of HEXO stock traded up $0.15 on Thursday, hitting $6.10. 6,253,000 shares of the stock were exchanged, compared to its average volume of 1,849,864. HEXO has a fifty-two week low of $2.64 and a fifty-two week high of $7.17.

About HEXO

HEXO Corp., through its subsidiary, HEXO Operations Inc, produces, markets, and sells cannabis in Canada. The company offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line; and Decarb, an activated fine-milled cannabis powder product. It provides its products under the HEXO and Hydropothecary brand names.

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Analyst Recommendations for HEXO (NASDAQ:HEXO)

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