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Canopy Growth (CGC) - Get Canopy Growth Corporation Report shares were falling Friday after the company was the subject of a bearish note from Bank of America.

The firm downgraded the stock to neutral from buy and also slashed its price target to $27 from $46. The price target is only a slight upside from the stock's closing price Thursday of $27.74. 

Bank of America analyst Christopher Carey said he sees a swoon in Canopy's stock that will match a second half pause in Canada's cannabis industry growth. 

Carey said there is too much risk in Canopy shares as long as estimates are at their current levels. 

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Finally, the backlash against vaping also could hurt cannabis stocks in the near-term as recent bad press could bleed into the cannabis industry. 

Canopy shares were down 1.06% to $24.48. 

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