Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED) recently reported its financial results for the third quarter that ended September 30, 2022 (“Q3 2022”).

Cantor Fitzgerald’s Pablo Zuanic said they stay Neutral on Canopy and maintain their 12-month price target of $3.30.

“Management called fiscal 2Q (Sep) an 'inflection point,' with Canada's cannabis sales starting to stabilize, and cash margins starting to improve (16%) on the back of savings and a shifting mix,” he said in his latest analysis.

The company’s domestic medical business ($14.2Mn) was up 6% seq, and “we estimate it may be contributing as much to $ gross profits than recreational,” Zuanic said. Regarding international sales ($10.5Mn), including U.S. CBD, "fell 24% seq. The CPG piece ($55Mn) was up 25% seq driven by hefty growth in BioSteel sports …

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