Robert Moskow, an analyst from TD Cowen, maintained the Buy rating on Tilray. The associated price target was lowered to $10.00.
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Robert Moskow has given his Buy rating due to a combination of factors, including the recent reverse stock split that effectively adjusted the price target to $10 from a pre-split value of $2.50. This adjustment reflects a strategic move to align the stock’s valuation with current market conditions.
Additionally, the new valuation considers a lower enterprise value to EBITDA multiple of 12x, which is based on a forward estimate of $80 million. This adjustment accounts for the ongoing challenges in the craft beer market and competitive pressures within the Canadian sector, suggesting a cautious yet optimistic outlook for Tilray’s financial performance.