Tilray Upgraded to “Buy.” Target Set at $23

Tilray Upgraded to “Buy.” Target Set at $23

Jefferies upgraded Tilray Inc. shares to buy from underperform with a price target of $23 from $4.77, according to MarketWatch. Analyst Owen Bennett termed Tilray’s merger with Aphria Inc. as a “perfect match” in the upgrade.

Bennett sees Tilray’s scale and Aphria’s unique positioning in German perfectly for it to succeed

Broad consumer goods portfolio and balance sheet of the combined entity is expected to enhance optionality around U.S THC and CBD

Bennett expects combined sales of 2020-2024 to be growing at 33% 

The analyst projects fiscal sales of $1.7 billion in 2024, more that the average of major Canadian producers of $482 million and U.S operators of $1.6 billionTilray stock reacts to news of an upgrade. TLRY is up 19.63%

Our Experts


Daniel Michelson

Daniel is a long term investor and position trader in the forex market.

Reva Green

Reva Green is the Senior Editor for website. An experienced media professional, Reva has close to a decade of editorial experience with a background.

Shandor Brenner

Shandor Brenner, an experienced writer at fxaudit.com, brings a wealth of knowledge with over 20 years in the investment field.

Leave a Reply

CAPTCHA ImageChange Image