Tilray (TLRY) is turning out to be one of the worst performers among the cannabis sector players with a YTD loss of 16%. In comparison, peer (HMMJ) Canopy Growth (WEED) was up about 60%, Aurora Cannabis (ACB) was up 81%, and Aphria (APHA) was up nearly 70% in the same period. Let’s look at how analysts’ ratings changed over the last month.
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As the above chart shows, the consensus recommendation of the 11 analysts covering the stock remained unchanged month-over-month at a “hold.” Out of those 11 analysts, none had a “strong buy” on the stock, but three analysts continued to recommend a “buy” this month. Also, four analysts continued to recommend a “hold” on Tilray, and two analysts recommended a “sell” on the stock. One analyst maintained a “strong sell” recommendation for Tilray. Over the last three months, analysts have turned relatively bearish on Tilray.
The current consensus price target of $107.7 for Tilray was also lower than last month’s consensus target of $117.2. The company’s target has come down considerably from the peak of about $147 just about six months ago, as the company has continued to disappoint investors. Tilray closed at $59.5 on April 5, which would leave an upside of about 80% if analysts turn out to be right.