Marijuana Stocks: GWPH Skyrockets on Morgan Stanley Coverage

Morgan Stanley rates GWPH shares as "overweight"

   

Marijuana Stocks: GWPH Skyrockets on Morgan Stanley Coverage

GW Pharmaceuticals (GWPH) shares saw a huge jump after Morgan Stanley’s coverage of the stock.

gw pharmaceuticals logo Marijuana Stocks: GWPH Skyrockets on Morgan Stanley Coverage
Source: gwpharm.com

Morgan Stanley gave GWPH shares an “overweight” rating and set the stock’s target price at $103 a share. This would have GW Pharmaceuticals stock rising 123.72% from its previous close, reports WKRB News.

TheStreet’s Jim Cramer has named GW Pharmaceuticals as his favorite cannabis stock and said that it will increase more than any stock besides Allergan (AGN) on Tuesday.

Other firms that have weighed in on GWPH stock include Bank of America, Piper Jaffray and Leerink Swann. The general thoughts of these firms is that GW Pharmaceuticals stock is a buy, WKRB News notes.

GWPH shares were up 34% as of Tuesday afternoon.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/04/marjuana-stocks-gwph-gw-pharmaceuticals/.

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