Tilray (TLRY), one of the top cannabis players in Canada, has been a favorite of day traders. The company has experienced wild swings, giving a hard time to fundamental investors who may be looking for an in.
To get a sense of Tilray’s value, we’ll look at what Wall Street analysts expect of its stock price over the next 12 months.
Tilray’s price target
The consensus estimate provided by a total of six analysts indicates that Tilray has a price target of $127 for the next 12 months. The stock has seen its price target gradually fall since October, when the consensus was $147. Just last month, its consensus price target was $140.
Tilray closed at nearly $85 on January 16. If its current price were to converge with its consensus price target of $127 over the next 12 months, investors would see a return of almost 49%.
This month, three analysts have given Tilray “buys,” and three analysts have given it “holds.” Read Tilray Surges 20%, Aphria Reports Earnings to learn more.
However, investors (MJ) should take these recommendations with a grain of salt, as only six analysts are providing coverage on the stock. This caution should also apply to Aurora Cannabis (ACB) and Canopy Growth (WEED). We’ll talk about Aurora next.