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TLRY

Tilray

$20.96

-0.61 (-2.83%)

09:00
11/14/19
11/14
09:00
11/14/19
09:00

Tilray price target lowered to $26 from $34 at MKM Partners

MKM Partners analyst Bill Kirk lowered his price target on Tilray to $26 and kept his Neutral rating after its mixed Q3 results, with revenue just above consensus and EBITDA missing expectations. The analyst notes that other companies in the cannabis space missed on both top line and profitability, stating that until these companies curtail spending or the pricing improves, near-term profitability for Tilray is also difficult to model. Kirk adds that lower price point products may be "the only way to compete" with the illicit market, but make achieving profitability even more difficult.

TLRY Tilray
$20.96

-0.61 (-2.83%)

11/04/19
CANT
11/04/19
INITIATION
Target $20
CANT
Neutral
Tilray initiated with a Neutral at Cantor Fitzgerald
Cantor Fitzgerald analyst Pablo Zuanic initiated coverage of Tilray with a Neutral rating and $20 price target.
11/05/19
CANT
11/05/19
INITIATION
Target $20
CANT
Neutral
Tilray initiated with a Neutral at Cantor Fitzgerald
Cantor Fitzgerald analyst Pablo Zuanic initiated coverage of Tilray with a Neutral rating and $20 price target. The analyst expects the Canadian licenses producer group to rally in the coming months on "more positive than negative catalysts," but he sees more upside in other stocks.
11/05/19
BOFA
11/05/19
NO CHANGE
BOFA
BofA says Mexico cannabis legalization 'still in play' in 2020 after extension
BofA Merrill Lynch analyst Christopher Carey noted that Mexico's Supreme Court has granted an extension until April 30, 2020 for Congress to legalize all forms of cannabis, writing in its decision that considering the complexity of the issue it grants the extension "exceptionally and for one time only." He views this as an important development for the industry since, in addition to opening a potentially large market, it will put even more pressure on U.S. federal action as the country will potentially "place the US between 2 of only 3 countries in the world to have legalized cannabis for recreational use." 9% of Mexico's population of 131M is estimated to have consumed cannabis in 2018 and the legal market could be worth $1B by 2024, according to BDS Analytics, noted Carey. Publicly traded companies in the cannabis space include Aphria (APHA), Aurora Cannabis (ACB), CV Sciences (CVSI), CannTrust Holdings (CNTTF), Canopy Growth (CGC), Cronos Group (CRON), General Cannabis (CANN), India Globalization Capital (IGC), Tilray (TLRY) and Trulieve Cannabis (TCNNF).
11/13/19
BNCH
11/13/19
NO CHANGE
Target $40
BNCH
Buy
Tilray price target lowered to $40 from $80 at Benchmark
Benchmark analyst Mike Hickey halved his price target for Tilray shares to $40 from $80 after the company's "mixed" Q3 performance that included slightly better than consensus sales and profitability that "again disappointed." However, he notes that gross margins expanded again sequentially and noted that Tilray said it sees reaching adjusted EBITDA profitability in the fiscal fourth quarter of FY20, when the consensus is still calling for a loss. He remains cautious on the Canadian regulatory environment and expects on-going near term supply and distribution constraints, but keeps a Buy rating on Tilray shares.

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SRPT

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