Tilray initiated with a Hold at Canaccord

Canaccord analyst Kenric Tyghe initiated coverage of Tilray (TLRY) with a Hold rating and C$13 price target The firm says that despite regulatory headwinds and structural inefficiencies, the Canadian cannabis market “remains a global benchmark for legal cannabis commercialization.” Tilray is the largest cannabis company by revenue in Canada and the fourth largest craft brewer in the U.S., the analyst tells investors in a research note. Canaccord cites the “tough” beer market for the Hold rating.