Canaccord bullish on Canopy Growth Corporation

Canaccord and Jefferies analysts have recently expressed bullish sentiments on Canopy Growth Corporation (CGC) and The Scotts Miracle-Gro Company (SMG), driving optimism in the cannabis and hemp sectors.

Canaccord Genuity initiated coverage on CGC on March 27, 2026, assigning a 'Buy' rating and a C$2.00 price target, while Jefferies maintained a 'Buy' rating on SMG, reducing its price target to $79 on April 29. Canopy Growth's recent introduction of the Deelish cannabis-infused beverage line further fueled investor optimism.

The bullish sentiments from these analysts have positively impacted the cannabis and hemp sectors, with CGC and SMG stocks likely benefiting from increased investor interest and potential revaluation. As major players in the cannabis and hemp industries, their performance can influence the broader market sentiment.

To watch next, investors should keep an eye on Canopy Growth's earnings, scheduled for June 15, 2026, and any updates on the regulatory front, particularly regarding cannabis-infused beverages. Additionally, Scotts Miracle-Gro's earnings, due on August 4, 2026, will provide further insights into the company's growth prospects.