Analyst Robert Moskow from TD Cowen maintained a Buy rating on Tilray and increased the price target to $2.50 from $0.80.
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Robert Moskow has given his Buy rating due to a combination of factors that highlight Tilray’s potential for growth. The company has shown promising sales figures, with a notable increase in Canadian adult-use and international markets. This growth surpasses previous estimates, indicating a strong market presence and the ability to capitalize on emerging opportunities.
Additionally, Tilray’s strategic re-engagement in the adult-use market, supported by improved pricing and volume growth, positions the company well for future profitability. Despite some challenges in gross margins, the company’s efforts to compete more effectively in high-growth segments like infused pre-rolls and vapes are noteworthy. Furthermore, potential regulatory changes, such as the anticipated legalization of on-premise THC beverage consumption, could further enhance Tilray’s market prospects. These factors collectively contribute to Robert Moskow’s optimistic outlook on Tilray’s stock.
In another report released on October 10, Jefferies also maintained a Buy rating on the stock with a $2.50 price target.