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TLRY

Tilray

$48.53

2.12 (4.57%)

07:02
05/15/19
05/15
07:02
05/15/19
07:02

Tilray upgraded to Market Perform from Underperform at BMO Capital

As previously reported, BMO Capital analyst Tamy Chen upgraded Tilray to Market Perform on valuation but lowered his price target to $50 from $60 after its "in line" Q1 results and his revised forecast of a "more gradual" industry production ramp. The analyst maintains his view that Tilray's output ramp to Canadian market has lagged some of the other large licensed producers, lowering his FY20 adjusted EBITDA outlook to $17M from $96M, but contends that the "notable downtrend" in Tilray stock year-to-date warrants a valuation-driven upgrade.

  • 30

    May

  • 06

    Jun

TLRY Tilray
$48.53

2.12 (4.57%)

05/03/19
05/03/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Domtar (UFS) upgraded to Buy from Neutral at Goldman Sachs with analyst Brian Maguire saying the current valuation on the stock marks an attractive entry point. 2. Kirby (KEX) upgraded to Buy from Underperform at BofA/Merrill with analyst Ken Hoexter stating shares have been under pressure due to overcapacity in the barging market. 3. Walmart (WMT) upgraded to Outperform from Market Perform at Bernstein with analyst Brandon Fletcher saying that while he thinks Walmart has not been able to return to its full potential for decades, the fully realized vision of what Walmart could be is "so fantastic that, if it even accidentally leans in the right direction," it could create an outsized investment return over several years. 4. Seagate (STX) upgraded to Buy from Hold at Argus with analyst Jim Kelleher stating the company looks to be "closer" to the end of the downturn in its end markets and he expects its "revitalized portfolio" to be well positioned once demand recovers. 5. Tilray (TLRY) upgraded to Hold from Underperform at Jefferies with analyst Owen Bennett saying that while he remains cautious on Tilray's outlook, "this now appears to be much better appreciated by the market" at current valuation levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/13/19
AGPP
05/13/19
INITIATION
Target $50
AGPP
Neutral
Tilray initiated with a Neutral at Alliance Global Partners
Alliance Global Partners analyst Aaron Grey initiated Tilray with a Neutral rating and $50 price target, stating that he thinks the stock's current valuation fairly values the company's leading position in terms of the medical market and clinical trials against its lower market share versus other top Canadian licensed producers. Grey estimates Tilray to have about 5% share of the total market following the first quarter of adult-use sales. Its market share will need to increase in order to justify the stock's premium valuation, but Grey thinks catching up in terms of market share could prove difficult, he said.
05/15/19
PIPR
05/15/19
NO CHANGE
Target $72
PIPR
Overweight
Tilray price target lowered to $72 from $84 at Piper Jaffray
Piper Jaffray analyst Michael Lavery lowered his price target for Tilray to $72 from $84 following the company's Q1 results and maintains an Overweight rating on the name. The company's momentum building, but its "trajectory can be lumpy," Lavery tells investors in a post-earnings research note titled "Short-term Growing Pains But Momentum Still Building." Tilray's Q1 revenue of $23M rose 49% from Q4, as better than expected cannabis revenues more than offset lower than expected hemp foods sales, says the analyst. However, he believes the company's negative earnings reflect the investment stage of the business and that this dynamic is likely to persist. Nonetheless, Lavery still expects strong industry growth long-term, and he believes Tilray is well positioned to be one of several likely winners.
05/15/19
BMOC
05/15/19
UPGRADE
BMOC
Market Perform
Tilray upgraded to Market Perform from Underperform at BMO Capital
BMO Capital Markets analyst Tamy Chen upgraded Tilray to Market Perform from Underperform.

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