Here’s What 3 Analysts Think of Canopy Rivers Inc.

Whether you’re an existing or prospective investor in Canopy Rivers Inc. (TSXV:RIV) (OTC:CNPOF) it can be nice to get a Wall Street analyst’s opinion on where they think things are headed. Even better than one analyst’s opinion is three analysts’ opinions.

This is especially useful guidance following Canopy Rivers’ recently announced joint venture with leading cannabis B2B marketplace and supply chain management platform LeafLink.

While the Leaflink platform has already demonstrated a dominant position in the United States, the new venture, called LeafLink Services International ULC, will exclusively license and leverage the LeafLink, Inc. technology throughout regulated international cannabis markets.

Do Analyst Opinions Even Matter?

Analysts have been around as long as stocks, but they’ve never been as influential as today. Given how quickly information passes through the investor ecosystem, one analyst’s update can send a company’s shares tumbling or soaring.

Analysts aren’t just market-moving, though. They’re also highly qualified investment professionals that have devoted years to studying business and investments to earn designations like CFA or CPA. Their knowledge combined with their unparalleled access to company executives and information means analyst updates are always worth reading.

When it comes to marijuana stocks, it is no different.

What Analysts Think of Canopy Rivers

Currently, there are a total of three Wall Street analysts covering shares of Canopy Rivers. In the last 6 months, all of them have provided their opinions on what to expect.

From lowest price target to highest price target, here’s where analysts think shares of RIV are heading:

$7.50 CAD Per Share – GMP FirstEnergy

$9.00 CAD Per Share – PI Financial

$12.00 CAD Per Share – Eight Capital

Conclusion

Combining the three analyst price targets above, we can see an average analyst price target of $9.50 CAD per share. Based on a last-traded price of $4.39 CAD per share on the TSX Ventures Exchange, that represents 116.4% of potential upside for shares of RIV.

When it comes to analyst opinions, however, the price target isn’t even half of it. All analyst price targets are subject to change, and most analysts update their outlooks and price targets often.

What really matters is why and how each analyst arrived that their price targets. That helps us better determine the catalysts that can propel Canopy Rivers to success as well as the risks that the company may face before reaching its full potential.

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