Canadian cannabis stocks have become an even more attractive opportunity after United States Attorney General Sessions rescinded the Cole Memorandum, which protected cannabis business that operate in states where marijuana is legal.

The legal cannabis industry has become a global opportunity and the move by Attorney General Sessions has strengthened Canada’s position as a global leader. The country is capitalizing on a once in a lifetime opportunity and is selling legal cannabis to countries like Australia, Germany, Denmark, Chile, Colombia, the Cayman Islands, and many more.

We continue to view the Canadian cannabis market as one of the best places to invest and the sector is in the first inning of a major growth cycle. Today, we have highlighted some of the hottest Canadian cannabis opportunities as well as some of the recent developments that support our thesis.

Cowen and Co. Raises Price Targets on Licensed Producers

Cowen and Company is one of the largest banks focused on the legal cannabis industry and earlier today, the broker-dealer made some changes to its coverage.

Today, Cowen and Company raised its price target on two Canadian licensed marijuana producers, Canopy Growth Corp (WEED.TO) (TWMJF) and MedReleaf (LEAF.TO) (MEDFF).

Canopy Growth had its price target increased to $44 from $24 while MedReleaf had its price target increased to $36 from $20. We expect the market to respond favorably to these price target hikes and will monitor how the market responds to this.

Canopy Growth is the largest licensed marijuana producer in the world and the company is levered to some of the largest markets in the world (Canada, Denmark, Germany, Chile, and Australia).

MedReleaf commenced trading on the TSX exchange in mid 2017 and the market responded very favorably to this listing. MedReleaf has a significant patient base in Canada and the company is capitalizing on international markets. In December, MedReleaf announced an agreement to become a medical marijuana supplier to Shoppers Drug Mart and we are favorable on the improved distribution.

Aurora Cannabis: An Execution Story

Aurora Cannabis continues to execute flawlessly on its business plan and we are favorable on the company’s recent developments. The licensed medical marijuana producer has a war chest of cash and is pursing inorganic and organic growth initiatives.

Last week, Aurora Cannabis announced a $200 million bought deal and a significant investment in The Green Organic Dutchman (private). We are bullish on these developments and see significant synergies between the two businesses.

Aurora Cannabis is also working to finalize the acquisition of CanniMed Therapeutics (CMED.TO) (CMMDF) and continues to acquire shares on the open market. We expect this acquisition to be completed and view the combined company as one of the most exciting opportunities.

From Germany to Australia, this Canadian licensed marijuana producer has significantly increased its reach and this is a stock investors need to watch.