Tilray price target raised to $2 from $1.50 at Jefferies

Jefferies analyst Kaumil Gajrawala raised the firm’s price target on Tilray (TLRY) to $2 from $1.50 and keeps a Buy rating on the shares. President Trump’s recently expressed interest in rescheduling marijuana from Schedule I to Schedule III opens the door to broader access in the U.S. in a meaningful shift in federal stance that the analyst calls “not legalization, but progress.” Tilray’s has the brand strength, scale, and balance sheet to capture the opportunity in cannabis, the analyst contends.