Home Cannabis TLRY Gets a Price Target Upgrade from Eight Capital

TLRY Gets a Price Target Upgrade from Eight Capital

Target upgrade

On January 22, Tilray (TLRY) received a price target upgrade from Eight Capital to $85 from its previous target of $70, indicating bullish sentiment toward the company over the next 12 months. This bullishness also reflected in the consensus, with the price target rising overall since our more recent update on the company’s ratings on January 17.

Tilray Analysts' NTM Recommendations and Targets 2019-01-24

The consensus at $131

The overall consensus price target for Tilray stood at $131 in the next 12 months, which increased from $127 on January 17. Earlier this week, Tilray announced that it will acquire Natura Natural Holdings in a move that would significantly add to Tilray’s cultivation capacity in Canada. The acquisition should provide Tilray an additional 662,000 square feet of capacity. Currently, ~23% or 155,000 square feet is licensed to cultivate cannabis under the Cannabis Act.

The overall consensus recommendation for Tilray remained at a “buy” with three analysts recommending a “buy” and three recommending a “hold.” Tilray’s peers (MJ) Canopy Growth (WEED)(CGC), Aphria (APHA), and Cronos Group (CRON) also have “buy” recommendations for the next 12 months. Check out Analysts Favor a ‘Buy’ Rating for iAnthus Capital and Will 2019 Be the Year of Acreage Holdings?

Continue to the next part of this series for our analysis of Tilray’s research partner’s, Anheuser-Busch InBev’s, comments on slowing beer sales and what they could mean for the cannabis business.

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