Tilray price target raised to $10 from $1 at Bernstein

Bernstein analyst Nadine Sarwat raised the firm’s price target on Tilray (TLRY) to $10 from $1 and keeps a Market Perform rating on the shares. The firm notes President Trump signed an Executive Order related to cannabis that aims to achieve two goals, namely it directs the Attorney General to take all steps required to reschedule cannabis from Schedule I to III, and directs his administration to work with Congress to update the statutory definition of hemp-derived cannabinoid products to allow to wider access of full-spectrum CBD products. This would include developing a regulatory framework for these products and increasing research.