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Wall Street Ratings Changes for CGC, TLRY, and CTST in March

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Industry full of opportunity

The cannabis industry continued to see action in March with companies announcing new acquisitions, forays into new markets, and hiring new talent. Tilray (TLRY), for example, recently roped in a former Goldman Sachs executive to lead its merger and acquisition and global strategy. Aurora Cannabis (ACB) added Nelson Peltz as its new strategic adviser while HEXO (HEXO) announced that it will acquire Newstrike Brands.

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Performance

In the above chart, we see three cannabis stocks’ YTD (year-to-date) performance. While Canopy Growth (WEED) and CannTrust (CTST) have delivered YTD returns above 50%, Tilray (TLRY)—for the most part—has underperformed these two peers (HMMJ). In our recent valuation update series, we compared how Tilray’s valuation multiples compare with other industry peers. We saw that Tilray and Cronos Group (CRON) were trading at a significant premium to their peers’ median. Read our full coverage in TLRY Is Too Rich for Jefferies—What about Other Cannabis Players?

Analyst ratings

In this series, we’ll discuss analyst ratings updates in March for three cannabis stocks—Canopy Growth, Tilray, and CannTrust. This research will expand on our previous ratings update series, Analysts’ Ratings Change for APHA, ACB, and CRON in March.

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