Morningstar Maintains Tilray Inc. (TLRY:TSX) Forecasts 400 Percent Increase

TLRY Stock

Analyst Ratings Coverage

Morningstar (Rank #111) just affirmed its bullish outlook today., May 29th  on Tilray, a leading cannabis company. Morningstar has also maintained Tilray with a “Strong Buy” rating and reiterated its 12-month target price of $9 per share. This reaffirmation of confidence in Tilray reflects Morningstar’s positive assessment of the company’s growth prospects and its potential to deliver favorable returns to investors.

Morningstar’s maintaining of its “Strong Buy” rating on Tilray underscores its conviction in the company’s long-term prospects. This rating is based on Morningstar’s in-depth analysis of Tilray’s financials, market position, and industry dynamics. It suggests that the research firm believes Tilray offers an attractive investment opportunity and expects the stock to outperform the market over the long run.

Morningstar’s 12-month target forecast is set at $9 per share, which suggests a upside of  approximate 400 percent increase.  Morningstar’s positive outlook on Tilray is likely influenced by several factors. The cannabis industry is experiencing a transformative period with increasing legalization efforts and expanding market opportunities. Tilray, as a key player in the industry, has positioned itself to capitalize on these developments through strategic partnerships, innovative products, and global expansion initiatives.  Tilray’s strong financial performance, robust product portfolio, and ability to adapt to evolving market dynamics have impressed Morningstar. The company’s focus on enhancing operational efficiency and achieving economies of scale further bolsters its growth prospects.

TLRY:CA Ratings by Stock Target Advisor

TLRY’s Stock Price Forecast & Analysis

According to the latest stock forecast from six analysts, Tilray Inc has an average analyst target price of CAD 6.46 over the next 12 months. This suggests a potential upside for the stock compared to its current trading price. The average analyst rating for Tilray Inc is Strong Buy, indicating a favorable outlook on the company’s future performance.

Stock Target Advisor’s own stock analysis of Tilray Inc presents a slightly bearish view, considering four positive signals and five negative signals. This analysis takes into account various factors such as technical indicators, trend patterns, and market sentiment to assess the stock’s potential trajectory. It’s worth noting that the Slightly Bearish rating from Stock Target Advisor may reflect short-term concerns or factors that differ from the average analyst sentiment.

At the last closing, Tilray Inc’s stock price was CAD 2.53. The stock has experienced significant volatility in recent periods, with a decline of 22.87% over the past week, 20.19% over the past month, and 56.38% over the last year. These price fluctuations could be attributed to various market factors, including industry dynamics, regulatory developments, and broader market sentiment towards the cannabis sector.

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