Canopy Growth Corp
WEED: XTSE (CAN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 96.00 | Pfjm | Wcvhy |
Canopy Growth: CEO David Klein to Retire; Search for Replacement Has Begun
Canopy Growth announced that CEO David Klein will retire at the end of the current fiscal year (ending March) or when a successor is identified. The company said it is still selecting a search firm to find its next CEO, so it may be a few months before Klein’s replacement is announced. This news has no effect on our no-moat rating or CAD 10.50/$7.70 fair value estimate, though we do expect to lower our fair value estimate by a mid-single-digit percentage on previously announced fiscal first-quarter results.