TD Cowen lowered the firm’s price target on Tilray (TLRY) to $7 from $10 and keeps a Buy rating on the shares. The firm is lowering its EBITDA estimates for fiscal 3Q26 and FY26 mostly from higher aluminum costs and the risk that the company’s Beverage business may not be fully hedged. Aluminum prices have increased further this year due to the supply shocks from the Iran conflict.
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