Wall Street is warning against Canadian cannabis stocks.In a Monday morning note, Cowen analyst Vivien Azer downgraded a group of major Canadian cannabis companies after a few disappointing quarters.Azer and other analysts still picked Canopy Growth as the industry leader in Canada, though they said Canadian companies are lagging behind their US cannabis counterparts. Her top pick in the US: Green Thumb Industries.Click here for more BI Prime stories.
Wall Street just leveled a stark warning against investing in Canadian cannabis stocks and said investors should shift their attention to emerging US names, instead.In a Monday morning note, Cowen analyst Vivien Azer — one of the first analysts at a US investment bank to cover the sector — downgraded a basket of major Canadian cannabis companies (LPs), including the embattled Aurora Cannabis, Tilray, and Sundial.That leaves Canopy Growth, under the guidance of its new CEO, David Klein, as Azer’s top Canadian cannabis pick, and the only Canadian company she maintains her outperform rating on. Azer listed Cronos Group as market perform, though she said the Altria-backed company has fallen down to second on her pecking order. “While industry challenges around doors and high quality flower supply are well understood, we now believe that the slower than expected rollout of ca
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