uploads/2018/11/Tilray-Analysts-NTM-Recommendations-and-Targets-2018-11-19-1.jpg

Tilray’s November Price Target and Recommendation Update

By

Updated

Tilray failed to deliver

Tilray (TLRY), which reported its earnings on November 13, missed both top-line and bottom-line consensus estimates, which led to a correction in the stock. Despite the earnings miss, the company remained optimistic about the future of the cannabis sector. In its earnings call, the company’s CEO, Brendan Kennedy, stated, “the cannabis industry remains very robust.” Learn more at Tilray Says ‘Cannabis Industry Remains Very Robust.’

Article continues below advertisement

Price target

The consensus mean analyst price target for Tilray after the earnings was cut to $140 from $147 in October. The consensus median price target was also cut to $150 from $172 over the same period, which comes after the company had seen optimistic sentiment since its debut in July this year. On November 19, Tilray stock closed at $106.8, which would mean that the current price target represents upside of ~30% to 40%.

Analysts’ recommendation

While the price target was raised, the recommendations remained unchanged, as we see in the above chart. Two analysts maintained a “buy” on the stock, and three analysts (MJ) maintained a “hold” recommendation on the stock. Unlike Aurora Cannabis (ACB)(ACBFF), none of the analysts have a “strong buy” for Tilray over the next-12-month period.

Next, we’ll look at Canopy Growth’s (WEED) recommendation and price target.

Advertisement

More From Market Realist