Ladenburg Thalmann analyst Glenn Mattson started Tilray with a Neutral rating. Within the cannabis space, the analyst favors Canadian companies who are focused on long-term value creation and gaining market share as well as those with a well-defined plan for potentially entering the U.S. market. He initiated coverage on the cannabis space with a "bullish long-term outlook." A significant portion of Tilray's near-term growth is a result of its Manitoba acquisition, which is mainly an organic foods company, as opposed to growth from cannabis, Mattson tells investors in a research note.