Coverage of BofA Merrill Lynch on forest cover growth

Bank of America Merrill Lynch

With the increase in the number of investment firms joining the hedging on the cannabis industry, investors can gauge the consensus views on the sector's shares. In early April 17, Bank of America Merrill Lynch initiated a cover on Canopy Growth (WEED) (CGC) with a note "purchase". The bank believes Canopy Growth is one of the few companies that can dominate the long-term cannabis sector. Canopy growth is established early in the most valuable segments of the value chain.

Register for Bagels & Stox, our witty look at the news of the best markets and investments, right in your inbox! Whether you are a serious investor or just want to be informed, Bagels & Stox will be your favorite email.

Jim Cramer on canopy growth

Canopy Growth has also been at the top of many investor lists. Jim Cramer said Canopy Growth was one of his best choices because of his partnership with Constellation Brands. According to Cramer, the capital gives Canopy Growth ammunition to grow and places it ahead of its competitors.

The partnership with Constellation Brands could be valuable for Canopy Growth's recreational cannabis business, but medical marijuana in international markets should be the next wave for cannabis companies. Countries are more open to medical cannabis than recreational cannabis. Companies are trying to position themselves as medical cannabis companies. Cannabis producing companies (HMMJ), including Aurora Cannabis (ACB), Aphria (APHA) and Tilray (TLRY) are already making inroads into international markets.