B of A Securities Maintains Underperform Rating for Cronos Group: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
B of A Securities has maintained its Underperform rating for Cronos Group (NASDAQ:CRON) but raised its price target from $1.78 to $2.00. Cronos Group's shares are currently trading at $2.05, which is slightly above the new target. The revised target suggests a potential downside of 2.44% from the current trading price. Cronos Group is involved in the cultivation and sale of medicinal and recreational cannabis, with operations primarily in Canada and export activities to Israel.
December 28, 2023 | 5:00 pm
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B of A Securities maintains an Underperform rating on Cronos Group with a raised price target of $2.00, indicating a potential downside given the current price of $2.05.
The maintenance of an Underperform rating suggests that B of A Securities does not see a positive outlook for CRON in the short term, despite the slight increase in the price target. The new target is still below the current trading price, which could lead to a negative impact on the stock price in the short term as the market adjusts to the analyst's expectations.
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IMPORTANCE 75
RELEVANCE 100