Hexo (TSE:HEXO) Cut to “Neutral” at CIBC

CIBC cut shares of Hexo (TSE:HEXO) from an outperform rating to a neutral rating in a research report report published on Monday, June 17th, BayStreet.CA reports. They currently have C$8.50 price target on the stock, down from their previous price target of C$9.50.

Several other research analysts have also recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Hexo from C$5.60 to C$7.70 in a research report on Friday, May 3rd. Desjardins set a C$14.00 price objective on shares of Hexo and gave the stock a buy rating in a research report on Friday, April 26th. Bank of America restated a buy rating and issued a C$10.00 price objective on shares of Hexo in a research report on Wednesday, April 17th. AltaCorp Capital reiterated an outperform rating and set a C$10.50 target price on shares of Hexo in a research report on Thursday, April 4th. Finally, Canaccord Genuity upped their target price on shares of Hexo from C$7.50 to C$10.00 in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of C$9.59.

TSE:HEXO opened at C$6.74 on Monday. Hexo has a 1 year low of C$3.98 and a 1 year high of C$11.29. The firm has a 50 day moving average price of C$8.67. The company has a quick ratio of 4.05, a current ratio of 5.62 and a debt-to-equity ratio of 7.80. The company has a market capitalization of $1.72 billion and a PE ratio of -37.87.

Read more at: https://rocklandregister.com/2019/06/26/hexo-tsehexo-rating-lowered-to-neutral-at-cibc.html