Five cannabis stocks got a thumbs-up from Jefferies this morning, as the firm started coverage of Canadian marijuana producers. But analyst Owen Bennett rates industry leader Canopy Growth as a Hold, while slapping Cronos Group with an Underperform.

Among his Buy-rated stocks, Bennett thinks the big grower Aurora Cannabis has 25% upside to his target price of C$12 ($9.11). His other picks are the smaller producers Green Organic Dutchman, CannTrust, OrganiGram and Flowr, which he sees having upside of 20%-40%.